It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation.
B. credentialism.
C. cretinism.
D. diplomacy.
Answer: B
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Who benefits from an import quota on a good?
A) domestic consumers of the good B) foreign governments C) domestic producers of the good D) foreign producers of the good
The marginal productivity theory of distribution holds that
a. each factor is paid what it deserves. b. the owner of each factor is paid the amount that the factor contributes to earnings. c. each factor's income depends on how hard it works. d. each factor receives an equal share of the revenue from production.
Between 1979 and 2009, ________ real GDP per capita was less than that of ________
a. the United States'; Japan b. the United States'; the United Kingdom c. the United States'; France d. Canada's; Germany
Suppose there is a reduction in foreign output (Y*). This reduction in Y* will cause which of the following in the domestic country?
A) a reduction in output B) a reduction in consumption C) a reduction in net exports D) all of the above E) none of the above