The best example of a nondurable good is
a. a television set
b. carpeting
c. a washing machine
d. an electric saw
e. a pair of children's shoes
E
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An assumption that affects a model in important ways is
a. a key step b. a simplifying assumption c. a bad assumption, one that should be avoided in economic theory d. a critical assumption e. one that should be replaced with empirical evidence
Which statement is true?
A. There is no evidence whatsoever to support the contention that women, blacks, Hispanics, and other minorities are victims of employment discrimination. B. The relatively lower wages earned by women and minorities can be explained entirely by employment discrimination. C. The poverty of women, blacks, and Hispanics can be explained almost entirely by their low earnings. D. None of these statements are true.