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Your company is in need of someone to fill a new position. The spot calls for some very specific skills, education, and experience, but you happen to have an old friend who exactly fits the bill. In addition, he has mentioned to you that he feels it is time to make a change and has been contemplating looking for a new job. You give him a call and he says that he is very interested, so you call the head of the department in question and tell him about your friend. The department head is very excited and tells you to have him call for an interview. You do and everything seems fine. Several weeks pass and your friend calls you and asks if you have any idea what happened with the job. He interviewed and everything went well, but he never heard back and just learned that the position had been filled with someone who has no experience and a much different background. You call the department head and relay the question. After some hemming and hawing, the department head makes some vague statement about your friend not being a "good fit." He was afraid that your friend's "accent" might make it difficult for him to be understood, and he was concerned about his work ethic since he came from a cultural background that has a more "laidback" work ethic. You hang up and think about it. Your friend is from Jamaica and does have an accent and very relaxed personality, but is certainly not lazy. Then you realize that he is also a minority and that this particular department not only has no minority employees, but never has had one. What do you do? Is the department head being ethnocentric or prejudiced? Do you tell your friend what you were told? Do you call someone higher up and express your concerns? Do you do nothing at all?
A monopolist with a straight line demand curve finds it can sell one unit at $7 each or seven units at $1 each. It's marginal cost is constant at $6 per unit. A monopolist would produce how many units? And charge? A perfect competitor would produce h..
How do the “rules of the game” help determine who will be poor and who will not? (Hint: How did the Civil Rights Act of 1964, which forbade discrimination on the basis of race, likely affect the incomes of African Americans compared to the incomes of..
The tools of monetary policy for altering the reserves of commercial banks are the
Describing how the average and marginal grade concepts, and other economic concepts which we have covered up to this point, relate to your everyday life. Begin by stating your average grade either as a percentage or as GPA.
Explain how can tax cuts help revive the economy.
A professor owned a home next door to a very dilapidated, neglected home. John Cataldo purchased the home next door and made a contract with Wizard Home Improvements for a complete renovation of the property. Do you think the professor will be succes..
An insurance market consists of high-risk patients, who average $40,000 in spending per year, and low-risk patients, who average $1,000 per year. Overall, low-risk patients represent 90 percent of the population. What would average spending be for a ..
A small Indiana town has one resident who uses and enjoys the local bowling alley. The marginal benefit of bowling for that resident is given by MB=50-7Q. The manager at the bowling alley has set the price of a game at $20. What is the total benefit ..
In the last few years, your company made a concerted effort to improve its minority hiring, so many of the new employees are minorities. How should you decide who to lay off?
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
Can you find a Nash equilibrium in pure strategies that is not efficient. Find the sub game perfect equilibrium as a function.
In the _____, the perfectly competitive firm will seek out ___________.
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