Comparing the median income of all white males to the median income of all black males in order to determine the impact of job-market discrimination on earnings tends to
a. overestimate the impact because it does not account for differences in education and job experience
b. underestimate the impact because it does not account for differences in education and job experience
c. overestimate the impact because it accounts for differences in education and job experience
d. underestimate the impact because its accounts for differences in education and job experience
e. correctly estimate the impact
A
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What two things determine the cost of production?
What will be an ideal response?
Refer to the figure above. Quota rents equal
A) $2000. B) $5000. C) $6000. D) $10000.
Which one of the following statements concerning the Second Bank of the United States is not true?
a. It was created by Congress to stabilize the money supply. b. Its constitutionality was a presidential election issue. c. It lost its charter during Andrew Jackson's presidency. d. Its power was undermined when Andrew Jackson shifted Treasury funds from it to state banks e. It instructed northern banks not to accept bank notes from some southern and western banks.
Under laissez faire, society's decisions about how much of every product to produce depend on
a. consumer preferences only. b. production costs only. c. consumer preferences and production costs. d. neither consumer preferences nor production costs.