A major university hired an economist to forecast enrollment to produce a prediction of “head count.” One variable that she would probably emphasize more than any other in trying to make the forecast
A. how interested people are in attending college.
B. the employment opportunities that college opens up.
C. survey results on public interest in education.
D. her instinct about what the public wants.
E. the price of attending—tuition.
Answer: E
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The Herfindahl-Hirschman Index is a measure of market power that focuses on:
A) the ratio of the price of a firm's product to the price elasticity of demand for the product. B) the share of the market controlled by the X largest firms in the market. C) the sum of the squares of the market share of each firm in an industry. D) the difference between a firm's product price and its marginal costs of production.
Which of the following ensures full employment in the Classical model?
A) Wage and price flexibility B) The equation of exchange C) Inventory adjustment D) Constant velocity
The most widely used measure of income inequality is
A) the Bureau of Labor Statistics' cost-of-living index. B) the Laffer curve. C) the Lorenz curve. D) the Gemini coefficient.
Contractionary monetary policy tends to:
A. raise U.S. prices, make exports cheaper relative to imports, and raise the value of the dollar. B. raise U.S. prices, make exports more expensive relative to imports, and lower the value of the dollar. C. lower U.S. prices, make exports cheaper relative to imports, and raise the value of the dollar. D. lower U.S. prices, make exports more expensive relative to imports, and lower the value of the dollar.