Statistical discrimination:
A. can be a rational response to information asymmetry.
B. is not always a legal solution to information asymmetry.
C. can limit the opportunities of individuals just because they happen to belong to a certain group of people.
D. All of these statements are true.
Answer: D
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According to the Bureau of Labor Statistics, if you voluntarily leave your job to search for another job, then you
A) are eligible for unemployment compensation. B) are classified as a job loser. C) are classified as unemployed. D) may not re-enter the labor force for six months.
The demand curve faced by the individual perfectly competitive firm is:
A) downward sloping. B) upward sloping. C) horizontal. D) vertical.
Assume X and Y are the only two goods a person consumes. If after a rise in the quantity demanded of Y increases, one could say
a. the income effect dominates the substitution effect for Y. b. the substitution effect dominates the income effect for Y. c. it is impossible to determine whether the substitution or income effect dominates for Y. d. None of the above.
If the government collects $10,000 in tax revenue and turns around and spends $10,000 to build a new road, and the MPC is 0.5, national income
a. is unchanged b. increases by $5,000 c. increases by $10,000 d. increases by $15,000 e. increases by $20,000