Jim, who is African American, and Paul, who is Polish American, were roommates in college. When they graduated, they had the same grade point average and excellent recommendations from their professors. Their first jobs were in the same industry at about the same salary. However, 20 years later, Paul is making significantly more money than Jim is. Based on common patterns in the United States, what is a likely reason for the difference?
a. Jim has experienced continuing discrimination over time.
b. Paul has experienced reverse discrimination over time.
c. Paul has more experience than Jim.
d. Jim has fewer qualifications than Paul.
a. Jim has experienced continuing discrimination over time.
One study shows that white and black college graduates have identical salaries immediately after college; however, the racial wage gap widens over time, an outcome that suggests the possibility of continuing discrimination.
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In evaluating the degree of economic efficiency in a market, we can state that the size of the deadweight loss in a market will be smaller
A) the greater the difference between marginal cost and average revenue. B) the smaller the difference between marginal cost and price. C) the greater the difference between marginal cost and price. D) the smaller the difference between marginal cost and average total cost.
The real interest rate can be negative
a. True b. False Indicate whether the statement is true or false
The long-run aggregate supply curve is _____.
Fill in the blank(s) with the appropriate word(s).
One-third of the world's population live in China and India. How did the growth rate of these two countries compare with the growth of high income industrial countries during 1980-2009?
What will be an ideal response?