What Played the Largest Role in the Formation of Poor

question 229

Multiple Choice

What played the largest role in the formation of poor black ghettos?

• A)Welfare
• B)High birth rates among unwed mothers
• C)The migration of black middle-and working-class families from poor black neighborhoods in the 1960s and 1970s
• D)Rising employment discrimination

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Definitions:

Socially Efficient

A situation in which an outcome benefits society as a whole and resources are allocated in the most beneficial manner from a societal perspective.

Marginal Cost

The increase in total cost that arises from producing one extra unit of a good or service.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and products that are close substitutes, leading to price competition and efficiency.

Utility Functions

Represent mathematical models that quantify an individual's preference for certain bundles of goods or services under conditions of scarcity.