Answer the following statements true (T) or false (F)
1) An employer (biased against African Americans) whose discrimination coefficient is $5 will hire
only whites if the actual African-American-white wage gap is $7.
2) A reduction in the collective discrimination coefficients of employers will increase the wage
rate of those discriminated against but reduce their employment.
3) Statistical discrimination is also known as occupational discrimination.
4) The crowding model of occupational segregation predicts that domestic output will increase if
occupational segregation is ended.
1) F
2) F
3) F
4) T
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Instruments which provide payments to holders of bonds in the event of default are known as ________
A) collateralized bond obligations B) tertiary payment devices C) credit default swaps D) mortgage-backed securities
____ is the income actually available to the consumers that determines aggregate demand.
A. Nominal income B. Net domestic product C. Income corrected for depreciation D. Disposable income
What is the crime externality associated with education?
A. A well-educated person earns higher income and commit less crime. B. A well-educated person runs for office and steals from society. C. A well-educated person implements policies that benefit other educated individuals. D. Schools and universities are a rip-off. Every worker in this university is a criminal.
When the excess capacity of business expands unintentionally, aggregate:
A. Demand will increase B. Demand will decrease C. Supply will increase D. Supply will decrease