According to recent research by Golden and Katz, __________ led the way in establishing high schools in the 1920s
a. the urban centers of the North
b. the mid-Atlantic states
c. California
d. the Middle West, including Iowa and Nebraska
d. the Middle West, including Iowa and Nebraska
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Which of the following statements about the characteristics of debt and equities is TRUE?
A) They can both be long-term financial instruments. B) Bond holders are residual claimants. C) The income from bonds is typically more variable than that from equities. D) Bonds pay dividends.
Anderson's Bakery sells apple pies in a perfectly competitive market. The market price is $12 per pie. The bakery produces 300 pies per month with a marginal cost of $7 per pie, an average variable cost of $5 per pie, and an average total cost of $7 per pie. In this scenario, Anderson is likely to: a. increase the production of apple pies to maximize profit
b. decrease the production of apple pies but stay open. c. continue to maintain current production levels to minimize losses. d. shut down immediately to minimize losses.
Disinflation refers to a situation where:
a. Price level rises, but the rate of inflation does not b. The rate of inflation rises, but the price level does not c. Price level falls, but the rate inflation does not d. The rate of inflation falls, but the price level does not
Suppose a shortage for good A exists. Given this information, we know that
A) the price of good A will tend to rise toward the equilibrium level. B) the price of good A will tend to fall toward the equilibrium level. C) a government price floor should be imposed above the current price so that the market can work more effectively. D) a government price ceiling should be imposed above the current price so that the market can work more effectively.