Chapter 15 suggests that the Community Reinvestment Act (CRA) provides an example of
A) bad intentions and bad unintended consequences.
B) good intentions and bad unintended consequences.
C) bad intentions and good unintended consequences.
D) good intentions and good unintended consequences.
B
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Many economists argue that the best way to correct employer discrimination is to
a. pass comparable worth laws b. increase the price of output, thereby raising profit c. shift the marginal revenue product curve of the unfavored group to the right d. shift the demand for labor to the left e. allow the market mechanism to equalize wages
If the price elasticity of demand is elastic, then:
A. Ed < 1. B. consumers are relatively not very responsive to a price increase. C. an increase in the price will increase total revenue. D. there are likely a large number of substitute products available.