Economic theory suggests that the consumer prejudice explanation for discrimination means that consumers will have to pay more to be served by employees of a specific group
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements about income and education in the United States is correct?
a. There is no relationship between income and education. b. At every age, average earnings are higher for those with more education. c. Average earnings are higher for those with more education, but only if they are over the age of 60. d. Average earnings are higher for those with more education, but only if they are under the age of 60. e. Income levels peak at a younger age for those with college educations than they do for those with only elementary educations.
Which of the following most closely represents the share of total U.S. income to the poorest 20 percent of all U.S. families?
a. 47 percent. b. 23 percent. c. 10 percent. d. 4 percent.
If the government accelerates money supply growth and enlarges the budget deficit to stimulate aggregate demand, the rational expectations hypothesis indicates that decision makers will
a. ignore the policy until it exerts an observable impact on prices, output, and employment. b. quickly take steps to adjust their decision making in light of the more expansionary policies. c. be fooled at the outset but eventually adjust their decision making in accordance with the change in policy. d. be unaware that this policy change has been implemented until a higher rate of inflation is observed.
Under the gold standard, an outflow of gold from the United States
A. would increase the U.S. money supply. B. would create a trade deficit. C. would create a trade surplus. D. would decrease the U.S. money supply.