College tuition expenses have risen from 1982 to 2012 by
a. an amount equal to prices in general.
b. an amount greater than average prices.
c. an amount less than average prices.
d. the amount of the percentage increase in the overall CPI.
b
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Which of the following does not contribute to increased worker productivity?
a. technological advances b. increased capital formation c. improvements in workers' skills d. increased labor supply
The demand for a good is inelastic with respect to price if the price elasticity of demand is:
A. less than one. B. greater than one. C. equal to one. D. equal to negative one.
Suppose the interest rate on one-year U.S. T-bills is 4 percent and the interest rate on one-year British T-bills is 6.5 percent. If the dollar is at a forward premium against the British pound of 1 percent, an American investor who does not want to face exchange-rate risk (but does want to earn the highest possible return) should
A. invest in dollar-denominated assets. B. forego use of the forward exchange-rate market. C. invest in pound-denominated assets. D. do nothing because exchange-rate risk is unacceptable.
The total of consumer plus producer surplus is greatest
A. at the market equilibrium. B. when consumer surplus is maximized. C. when producer surplus is maximized. D. all of the above