Statistical discrimination is when you take action to:
A. fill gaps in your information by generalizing based on observable characteristics.
B. reveal one's own private information.
C. find out the opportunity cost of acquiring more information.
D. reveal private information about someone else.
Answer: A
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If the absolute price elasticity of demand for automobiles is equal to 0.75, we say
A) that demand is inelastic. B) that demand is elastic. C) that there is a strong responsiveness of quantity demanded to automobiles price cuts. D) none of the above is correct.
Which panel of Figure 3.3 represents the changes in the market for student housing when university enrollment increases and at the same time the university destroys several older residence halls and apartment buildings?
A. A. B. B. C. C. D. D.
The copper, aluminum, cement, and industrial alcohol industries are examples of:
A. interproduct competition. B. homogeneous oligopoly. C. monopolistic competition. D. differentiated oligopoly.
Unemployment benefits are
A. paid to individuals the entire time they are unemployed regardless of how long they are unemployed. B. paid regardless of a person's income from other sources and regardless of assets. C. not paid to individuals with assets valued over $200,000. D. reduced by an amount that is equal to an individual's income from other sources.