Two economists created fake resumes with either common African-American names such as Lakisha and Jamal or common white names such as Emily and Greg. After sending them to potential employers with "Help Wanted" ads in Boston and Chicago newspapers, they found that
a. black employees earned 50 percent less than white employees in Chicago but that blacks and whites had similar wages in Boston.
b. black employees earned 50 percent less than white employees in Boston but that blacks and whites had similar wages in Chicago.
c. job applicants with white names received 50 percent more phone calls from interested employers.
d. job applicants with white names received 7 percent more phone calls from interested employers.
c
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If the Fed lowers the inflation rate and initially expected inflation does not change, in the short run the unemployment rate ________, and in the long run the unemployment rate ________ the natural unemployment rate
A) does not change; is greater than B) rises; is greater than C) falls; is equal to D) rises; is equal to E) does not change; is equal to
Pineapple growing is a perfectly competitive industry. How does the market demand curve for pineapples compare to the demand curve for an individual pineapple grower?
What will be an ideal response?
Keynesians argue that the stabilizing effects of a fall in investment and the resulting decline in the price level assumed by the monetarists
A) will not happen because the price level will actually rise. B) will happen. C) is not likely to happen because the price level rarely ever falls. D) may or may not happen depending on what happens to interest rates.
Exogenous variables in the IS-LM model variables are
a. money supply b. autonomous consumption c. government spending d. prices e. all of the aboveFigure 7-4