In the taste-for-discrimination model:
A. a decline in discrimination will reduce the actual African-American-white wage ratio.
B. an increase in collective discrimination coefficients of employers will reduce the demand for
African-American workers, decrease the African-American wage, and increase African-
American employment.
C. firms that discriminate will have lower costs than firms that do not discriminate.
D. competitive forces will tend to reduce discrimination in the very long run.
Answer: D
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When monetary equilibrium occurs,
A) the demand for final goods and services equals the supply of final goods and services. B) gross business investment falls to zero. C) relative prices remain constant. D) the quantity supplied of money equals the quantity demanded.
Business cycles can be described best as
(a) being pervasive during the antebellum period but their effects were isolated to the private sector. (b) being pervasive during the antebellum period but their effects were isolated to the public sector. (c) being pervasive during the antebellum period and their effects were felt both in the private and public sectors. (d) uncommon during the antebellum period but their effects were felt significantly when present.