Over the course of the twentieth century, the typical American
A) remained equally as rich.
B) became twice as rich.
C) became five times as rich
D) became eight times as rich.
D
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If there is employment discrimination against minorities, this will cause the:
a. supply of their services to increase, and their wages to fall. b. demand for their services to decline, and their wages to fall. c. supply of their services to decline, and their wages to rise. d. demand for their services to decline, and their wages to rise.
The similarity between markets for common resources and markets with externalities is that:
A. the equilibrium quantity is too high in terms of society. B. the price that competitive firms charge does not capture the true costs and benefits of consumption. C. government involvement is needed to reach an efficient outcome. D. generally we get an oversupply at market.