Minority Groups in the United States Have, on Average, Significantly

question 9

Multiple Choice

Minority groups in the United States have, on average, significantly lower net worth than white Americans even when the two have similar education, income, and occupations. Sociologists attribute the wealth gap largely to housing policies that excluded minority individuals from home ownership. This is an example of __________ discrimination.

• A) side-effect
• B) purposeful
• C) past-in-present
• D) de jure

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Definitions:

Price Level

A measure of the average of current prices across the entire spectrum of goods and services produced in the economy, often used to analyze inflation.

Classical Model

An economic theory that emphasizes the role of free markets in regulating economic activity and suggests that markets naturally move towards full employment.

Prices and Wages

The amount of money required to purchase goods and services, and the payments made to workers for their labor, respectively.

Long-Run Aggregate Supply Curve

This curve represents the total output of goods and services that an economy can produce when it is most efficiently using all of its resources, unaffected by short-term fluctuations in demand.