If one looks at U.S. Census data and finds that the average white salary is $39,000 while the average black salary is $36,000, which of the following is not likely to be a significant cause of this difference given U.S. labor market demographics?
A. Whites are more likely than blacks to own their own business.
B. Whites are more inclined than blacks to work part-time.
C. Whites are more likely than blacks to hold positions in upper management.
D. Blacks have less education than whites.
E. Discrimination exists in the labor market.
Answer: B
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a. DGH b. DEH c. DEHG d. EH
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A subsistence economy is
a. a very low income economy. b. an economy in which people make what they consume. c. an economy in which people receive food for pay. d. all of the above.
When real GDP is in equilibrium there will be no tendency for real GDP to _____ or _____.
Fill in the blank(s) with the appropriate word(s).