Treating two otherwise-equal people differently because of their race is called
A. rational discrimination.
B. disparate treatment discrimination.
C. adverse impact discrimination.
D. "perfect" discrimination.
Answer: A
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Demand sensitivity depends on all of the following except:
a. how low is the price of the good. b. the sensitivity of firms' output to changes in its price. c. the consumer's income. d. the availability and closeness of substitutes. e. the amount of time a consumer has to adjust to price changes.
The legislation which outlawed stock-purchase mergers that would substantially reduce competition was the:
A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Celler-Kefauver Act.
At the profit-maximizing level of employment, the monopsonist
A. pays a wage equal to MRP. B. pays a wage less than MRP. C. pays a wage greater than MRP. D. pays a wage equal to MFC.
If real GDP per person in a country equals $40,000 and 60 percent of the population is employed, then average labor productivity equals:
A. $66,667. B. $40,000. C. $60,000. D. $24,000.