A closed economy refers to an economy with
A) no immigration. B) tariffs and import quotas.
C) government control of all factors of production. D) no international trade.
D
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Which is the most likely reason why more students continue on to graduate school when the economy is in bad shape and job prospects are poor?
A) They finally see the value of continuing their education. B) They are pressured by parents to stay in school a few more years. C) Their opportunity cost of attending college has fallen. D) They are irrational in this case, as they will have to take on more debt to finance the graduate degree.
________ is the additional satisfaction a person receives from consuming an extra unit of a good
A) Total utility B) Marginal utility C) Diminishing marginal utility D) Preferences
What are the three books to which the FOMC has access and what information is included in each?
What will be an ideal response?
Which of the following cultural events likely increased the demand for the product highlighted in the event?
A) the banning of cigarette advertising on television B) the inclusion of Reese's Pieces in the movie E.T. C) increased environmental awareness about the impacts of sport utility vehicles (SUVs) D) concerns over "Mad Cow" disease in beef