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Statistical Discrimination Is When You Take Action To

Question 119
Multiple Choice

Statistical discrimination is when you take action to: A) reveal private information about someone else. B) reveal one's own private information. C) find out the opportunity cost of acquiring more information. D) fill gaps in your information by generalizing based on observable characteristics.

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Q 120
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.
Q 121
An example of statistical discrimination would be: A) charging young drivers a higher premium than older drivers. B) charging homes near a lake higher premiums for flood insurance than those on a hill. C) assuming the food will be better at an Italian restaurant than a Chinese one in the Little Italy neighborhood of NYC. D) All of these are examples of statistical discrimination.
Q 122
Generalizing using statistical discrimination is: A) an irrational response and always leads to loss of surplus. B) a rational response to being on the wrong end of an information asymmetry. C) a rational response, although government always steps in to prevent it. D) All of these statements are true.
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