A 1986 study of segregation on early 20th century U.S. streetcars found that the primary source of racial segregation on streetcars was
a. a longstanding tradition of racial segregation.
b. policies implemented by the owners of streetcars.
c. laws passed by the government.
d. threats by white people to boycott the streetcars if they were forced to sit with black people.
c
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The public often overestimates the negative effects of inflation due to a focus on nominal rates of interest
a. True b. False Indicate whether the statement is true or false
If price and quantity are not at their equilibrium positions, then
A. government must intervene. B. a move to another position will help everyone. C. it is possible to reallocate so that some people are better off without harming others. D. a move to another position will not hurt anyone.
Suppose technical change permits cable television companies to provide their services at lower rates. The share-the-gains, share-the-pains theory would predict that the regulators would
A) permit the firms to keep the savings and would lower prices only if the firms were pressured to do so. B) force the firms to pass all the savings on to consumers in the form of lower prices. C) force the firms to pass the savings on to consumers in the form of better service. D) force the firms to pass some of the savings on to consumers and to permit the firms to keep some of the savings themselves.
A profit-maximizing price searcher will expand output to the point where
a. total revenue equals total cost. b. marginal revenue equals marginal cost. c. price equals average total cost. d. price equals marginal cost.