Jerry Is a Working-Class Black Man with Good Credit

question 3

Multiple Choice

Jerry is a working-class black man with good credit.He needs to take out a loan to pay for some improvements to his house.Several banks denied his request for a loan because the neighborhood he lives in is considered risky for real-estate investments.Jerry is the victim of

• A)overt discrimination.
• B)personal discrimination.
• C)quiet discrimination.
• D)institutional racism.

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Definitions:

Prices

The amount of money required to purchase goods or services, indicating the value that consumers are willing to pay and sellers are willing to accept.

Industry

A sector of the economy that includes all businesses involved in the production or processing of goods, provision of services, or related activities.

Market System

In this economic structure, supply and demand forces directly influence decisions around investment, production capacity, and distribution methods, with the price points of goods and services being freely determined in a competitive price system.

Expanding Industry

An industry or sector experiencing significant growth in terms of output, sales, or number of participants.