Which of the following explains the differences in earnings by race?
A. differences in productivity
B. racial discrimination
C. differences in education and work experience
D. All of these
Answer: D
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An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured employees forgoing their diet and exercise c. drivers of safer cars turning their phones off before driving d. borrowers investing their loan proceeds exactly as the bank requires
The wage gap between ________________ workers has gotten closer since 1970, but the wage gap between ____________ workers has stayed fairly stagnant over the same time period.
a. immigrant and nonimmigrant/male and female b. male and female/black and white c. unionized and nonunionized/black and white d. immigrant and nonimmigrant/unionized and nonunionized
Assume that banks do not hold excess reserves, all deposits remain in the banking system and that the required reserve ratio is 20%. If one bank obtains excess reserves of $10,000, then the maximum increase in money supply is
A) $10,000. B) $20,000. C) $40,000. D) $50,000.
The determinants of price elasticity of demand include:
A. availability of substitutes, cost relative to benefit, and scope of market. B. degree of necessity, cost relative to income, scope of market, and adjustment time. C. cost relative to income, scope of demand, and adjustment time. D. availability of complements, cost relative to income, and scope of market.