Assume that goods X and Y are substitutes and are produced in perfectly competitive markets. All else constant, in the short run, a decrease in the supply of good X would cause:

A minority candidate may not have the same chances as a white candidate for a job simply based on an employer's misconceptions about minorities

a. True b. False Indicate whether the statement is true or false

Using the aggregate demand/aggregate supply model, explain the difference in the employment prospects of the graduates of 2007 and 2009