Prejudice can generate market forces that lead to a permanent shift of an unfavored minority into low-wage jobs when the prejudice originates with
a. employees or customers
b. employers, employees, or customers
c. employees only
d. employers or employees
e. customers only
A
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The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5.If this economy is open to trade, and the world price of a car is $6,000, and the government imposes a quota allowing 3000 cars to be imported, then domestic price of the car will be ________.
A. $6,000 B. $5,000 C. $10,000 D. $8,000
A fall in the rate of people's time preference in general tends to
A) increase interest rates. B) decrease interest rates. C) have no effect on interest rates. D) have no effect at all in the market for credit.
Which of the following is not a benefit to lenders/investors of financial intermediation?
a. Lower transaction costs than the direct market. b. Lower risks than the direct market. c. More diversification than the direct market. d. More convenient than the direct market. e. Higher yield than the direct market.
In his 1951 book, Social Choice and Individual Values, Kenneth Arrow used the term "transitivity" to mean
a. A beats B only if everyone prefers A to B. b. if everyone prefers A to B, then A beats B. c. if A beats B and B beats C, then A must beat C. d. everyone who is eligible to vote must vote; otherwise, the outcome is invalid.