Since the 1980s, federal spending on higher education has taken the form of
A. a substantial shift toward subsidized loans rather than grants.
B. a substantial shift toward grants rather than loans.
C. direct payments to universities.
D. direct payments to faculty.
Answer: A
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A point along a production possibilities curve shows
A. that in order to acquire more of one good, none of the alternative good must be given up. B. that in order to acquire more of one good, some of the alternative good must be given up. C. that any amount of goods could be produced by society if people worked harder. D. various combinations of guns and butter that can be produced under conditions of 6 percent unemployment.
The implication of the Solow model is that for sustained growth:
A) the ratio of savings rate to depreciation rate should be constant as the economy grows over time. B) the ratio of savings rate to depreciation rate should increase as the economy grows over time. C) the ratio of capital stock to GDP should decreases the economy grows over time. D) the ratio of capital stock to GDP should be constant as the economy grows over time.
Refer to Figure 19.3. At the exchange rate of 90 yen per dollar, the United States is experiencing a
A) balance of payments deficit. B) current account deficit. C) capital account surplus. D) balance of payments surplus.
Suppose MRS does not equal MRT for all consumers. In this case, the economic outcome is not fully efficient because:
A) exchange is inefficient. B) the use of inputs in production is inefficient. C) the mix of outputs in inefficient. D) none of the above