What is the biggest reason for the pay gap among racial groups?
a. legal discrimination in favor of Asians and Caucasians
b. systemic discrimination against Latinos and African-Americans
c. higher educational achievement of Asians and Caucasians
d. differences in job choices between the different racial groups
c. higher educational achievement of Asians and Caucasians
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If inflation is higher than expected, this helps borrowers (by reducing the real interest rate they pay) and hurts lenders (by reducing the real interest rate they receive)
Indicate whether the statement is true or false
When the official price for goods and services is below the equilibrium price in a market, prices no longer perform their rationing function efficiently
a. True b. False Indicate whether the statement is true or false
Historically, the largest budget deficits and growing government debt occur during war years
a. True b. False Indicate whether the statement is true or false
In a recession, typically
A) the labour force participation rate increases. B) the employment-to-population ratio decreases. C) the employment-to-population ratio increases. D) unemployment decreases. E) none of the above.