Moving down along the market demand curve for hot dogs, the
A) maximum price that people are willing to pay for hot dogs increases.
B) marginal social benefit of hot dogs decreases.
C) marginal social cost of hot dogs increases.
D) consumer surplus of the last hot dog consumed increases.
B
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When the economy enters an expansion of a business cycle, households become more optimistic about expected future disposable income. The increase in optimism leads to
A) a shift upward of the consumption function. B) a movement downward along the consumption function. C) no change in the level of consumption expenditures. D) an increase in consumption expenditures. E) a movement upward along the consumption function.
Statistical discrimination refers to
a. the statistical measurement of the effects of prejudice on minorities excluded from employment b. the monetary impact of prejudice on minorities, in contrast to the nonmonetary impact c. government tracking of the economy-wide impact of discrimination against minorities d. using statistics to explain employer discrimination against minorities e. exclusion of individuals from an activity due to the probability of behavior in their group rather than personal characteristics