In 1910, 8.6 percent of American 17-year olds were high school graduates. By 1938, this figure _____
a. had fallen to 5 percent.
b. equaled 15 percent.
c. had risen to nearly 50 percent.
d. had not changed appreciably.
c. had risen to nearly 50 percent.
You might also like to view...
Because of diminishing returns, an economy can continue to increase real GDP per hour worked only if
A) the per-worker production function shifts downward. B) there is technological change. C) there are decreases in human capital. D) there continue to be decreases in capital per hour worked.
Everything else held constant, if consumption expenditure increases by 65 for a 100 increase in disposable income, the mpc is
A) 0. B) 0.5. C) 0.65. D) 1.
Firms maximize profit when
A) the additional benefit from producing a good equals the additional cost of producing that good. B) MR = MC. C) the derivative of the profit function with respect to output is zero. D) All of the above.
Which of the following is the best explanation for why President Harry Truman once said that he wanted to find a one-armed economist?
a. President Truman received input from so many economists that he only wanted one view from each. b. President Truman thought economists should analyze policies but not make or enforce them. c. Economists understand that most policy decisions involve trade-offs so they are likely to present multiple views of policies. d. A one-armed economist would conduct only positive analysis and no normative analysis.