When expectations cause people to discriminate against a certain group, it is referred to as:
A) preferential bias.
B) implicit discrimination.
C) statistical discrimination.
D) taste-based discrimination.
C
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The Phillips Curve will shift when
A) the overall employment rate remains unchanged. B) the expected inflation rate changes. C) the price level falls. D) none of the above.
An indifference curve represents combinations of two goods that provide an individual the same total utility.
Answer the following statement true (T) or false (F)
Which of the following government actions can hinder the economic development of a country?
A. It inhibits the growth of the financial and banking sector. B. It implements policies that increase inflation rates in a country. C. It adopts policies that effectively tax exports. D. All of these are correct.
Specialization describes the occurrence when a country shifts resources to focus on producing a good that offers ____________ advantage and the lowest opportunity cost.
a. marginal b. comparative c. minimal d. profit