Statistical Discrimination Using Gender and Age

question 84

Multiple Choice

Statistical discrimination using gender and age:

• A) is legal in the insurance market, but not the job market.
• B) is legal in the job market, but not the insurance market.
• C) is legal in any market, but using race is not.
• D) is illegal in any market.

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Definitions:

Short-Run Average Cost

The average cost of production per unit in the short term, where some inputs are fixed and others are variable.

U-Shaped

A graphical representation showing a particular relationship where initial and end values are higher than those in the middle, resembling a "U" shape.

Returns To Scale

The change in output resulting from a proportional increase in all inputs in the production process.

Procedural Safeguards

These are legal protections designed to ensure that individuals' rights are preserved during legal or administrative processes.