Explain the two models/theories of discrimination
What will be an ideal response?
The taste-for-discrimination model views discrimination resulting from preferences or tastes. This theory explores the willingness-to-pay that people pay to avoid the no preferred group. The size of the payment depends on the degree of prejudice.
The statistical discrimination judges individuals based on their average characteristics rather than their own merit. The differences among characteristics are based on factual evidence indicating one group to be more likely to complete an action than their counterparts.
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Between 1950 and 2015, the number of acres devoted to wheat production in the United States ________ and the price of wheat ________
A) declined; more than doubled B) more than doubled; increased by about 50 percent C) declined; decreased D) increased; more than doubled
Leakages cause diversion of income from the domestic spending stream
a. True b. False Indicate whether the statement is true or false
A tax on an imported good is called
a. a subsidy b. dumping c. a quota d. a tariff e. restricted trade
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher