Although More Blacks Are Joining the Ranks of the Middle

question 39

Multiple Choice

Although more Blacks are joining the ranks of the middle class, it remains that they tend to have far fewer assets than do Whites. Why is this the case, according to your text?

• A)Blacks are more likely to live in extended families.
• B)Whites have a more difficult time obtaining a home mortgage loan from banks.
• C)Homes in predominantly Black neighborhoods appreciate in value more rapidly than do homes in predominantly White neighborhoods.
• D)Whites are more likely to draw upon the assets of their parents through a loan or inheritance.
• E)Blacks are less likely to receive promotions on the job.

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specified period of time.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services, often aimed at curbing inflation or protecting consumers.

Market Efficiency

A condition in which market prices fully reflect all available information, allowing for optimal allocation of resources without waste.

Non-price Factors

Elements that influence consumer decision making and market trends, such as product quality, brand loyalty, and consumer preferences, aside from the price.