The unemployment rate for African-Americans is, across age categories,
A. one percentage point lower than that of whites.
B. several percentage points higher than that of whites.
C. about the same as that for whites.
D. less than half that of whites.
Answer: B
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The above figure shows the market for anti-freeze. The government imposes the sales tax shown in the figure on sellers. What is the deadweight loss from this tax?
A) $1,500 B) $3,000 C) $4,500 D) $6,000
A bond's price and its yield to maturity are inversely related because
A) discounting future payments at a higher rate reduces the present value of the payments. B) discounting future payments at a higher rate increases the present value of the payments. C) an increase in the yield to maturity will lower a bond's coupon rate and hence its price. D) a fall in a bond's price will lower its par value and hence its yield to maturity.
Internal and external economies positively contributed to U.S. industrialization
Indicate whether the statement is true or false
Suppose Fred honestly tells the car dealer that the maximum amount he's willing to pay for a Ford Escort is $12,000 . The dealer says, "You're in luck! We have one on the lot for $12,000.". Which of the following statements is true?
a. The dealer's consumer surplus is $12,000. b. Fred and the dealer share $12,000 of consumer surplus. c. Fred's consumer surplus is $12,000. d. Fred receives no consumer surplus. e. The car is not worth $12,000.