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A worker has a marginal product of 15 units a day, each of which can be sold for $10. Is it profitable to hire this worker if the wage rate is $100 a day? Briefly explain your answer.
Subprime Mortgages
Loans given to borrowers with lower credit scores at higher interest rates than standard mortgages, significantly contributing to the 2008 financial crisis.
Unemployment Rate
A measure of the percentage of the workforce that is jobless and actively looking for employment.
African-Americans
People of African descent living in the United States, historically subject to slavery and segregation, and now a vital part of the nation’s cultural and social fabric.
Whites
The term "whites" is used to refer to individuals who are characterized by a lighter skin pigment, often of European descent.
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