If there is employment discrimination against minorities, this will cause the
a. demand for their services to decline, and their wages to fall.
b. supply of their services to decline, and their wages to rise.
c. supply of their services to increase, and their wages to fall.
d. demand for their services to decline, and their wages to rise.
a. demand for their services to decline, and their wages to fall.
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A recent study by Andrew Rose of the University of California showed that, on average, two countries that are members of the same currency union
A) trade three times as much with each other as countries that do not share a currency. B) trade twenty times as much with each other as countries that do not share a currency. C) trade ten times as much with each other as countries that do not share a currency. D) trade six times as much with each other as countries that do not share a currency. E) trade twice as much with each other as countries that do not share a currency.
If, after a deposit outflow, a bank needs an additional $3 million to meet its reserve requirements, the bank can
A) reduce deposits by $3 million. B) increase loans by $3 million. C) sell $3 million of securities. D) repay its discount loans from the Fed.
In a first-price auction:
a. the lowest bidder receives its actual bid as a payment for the job. b. the lowest bidder wins the bid and pays the amount bid by the first runner-up. c. the bidder bids less than its cost and incurs a loss. d. the lowest bidder wins the bid and has to pay the actual bid for the good.
People interpret evidence to confirm beliefs they already hold. This statement is an example of which of the following systematic mistakes that people make?
a. people are overconfident b. people give too much weight to a small number of vivid observations c. people are reluctant to change their minds d. All of the above are correct.