Dissatisfaction with public school education has led many parents to try home schooling for their children. If parents reduce their work from a full-time to a part-time load in order to spend time teaching their children at home, how will this affect GDP?
A. GDP will stay the same.
B. Real GDP will increase and nominal GDP will decrease.
C. Both real and nominal GDP will increase.
D. GDP will decrease.
Answer: D
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Why are suburban stores more likely than downtown stores to provide free parking for their customers?
A) Fewer people drive their cars to downtown stores than to suburban stores. B) Suburban people are more addicted to the automobile than are inner-city residents. C) The cost of using land is higher in the downtown area. D) There is not much land available in the downtown area.
Money is neutral in the model economy we discussed because
A) the money supply is exogenous. B) the money supply is intertemporal. C) prices are fully flexible. D) it is a barter economy.
Refer to the graph shown. In equilibrium, total surplus is equal to:
A. 1,200. B. 1,400. C. 600. D. 2,000.
A key factor in TQM is the:
A. reliance on simple production techniques. B. reduction of defects. C. reliance on unskilled workers. D. reduction in the prices of supplies.