Traditionally blacks have earned about _____% of what whites have earned.
A. 20
B. 40
C. 60
D. 80
C. 60
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In an indifference curve/budget line diagram, a consumer's equilibrium consumption combination will occur
A) inside the budget line. B) outside the budget line. C) on the budget line. D) at the origin.
One of the virtues of rising resource prices is they encourage innovation, especially the discovery of other more abundant resources.
Answer the following statement true (T) or false (F)
?Exhibit 10A-1 Aggregate demand and supply model
Beginning from long-run equilibrium at point E1 in Exhibit 10A-1, the aggregate demand curve shifts to AD2 . The real GDP and price level (CPI) in short-run equilibrium will be:
A. $12 billion and 200. B. $8 billion and 250. C. $8 billion and 150. D. $12 billion and 250.
Which of the following is NOT an example of a barrier to entry?
A. Rare natural minerals B. Heavy government regulations C. Lower costs D. Scarce land