At age 40, Joe is considering quitting his job and going back for a college degree. He needs two more years full-time. Tuition is $10,000 per year. He earns $30,000 per year. A college degree would raise his annual income by $10,000 per year
He will retire at age 70. Which of the following makes it more likely that Joe will decide to go back to college full-time? A) The rate of interest increases.
B) The rate of interest decreases.
C) The government enacts mandatory retirement at age 60.
D) Tuition increases.
B
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Which of the following causes the aggregate production function to shift up?
A) An increase in capital stock B) A decrease in the productivity of workers C) An improvement in technology D) An increase in the total efficiency units of labor
A patent
a. is given only to government owned companies. b. is not a legal impediment to entry. c. is a privilege granted by a state to an inventor over his invention. d. does not give the holder a monopoly during the period it is in effect.
In 2012, the primary sources of U.S. electricity generation, in order from largest to smallest, were:
A. coal, natural gas, nuclear, and hydropower. B. coal, hydropower, nuclear, and renewables (wind and solar). C. natural gas, coal, hydropower, and petroleum. D. hydropower, nuclear, coal, and petroleum.
If the AD curve is vertical, a positive cost shock will cause ________ in output and ________ in the price level.
A. no change; an increase B. a decrease; no change C. a decrease; an increase D. no change; no change