If public subsidies for education were eliminated, what would you expect as an outcome in the market for educational services?
A) More students would enroll in school.
B) The price students pay to attend school would equal the value of an additional unit of education consumed.
C) There would be no correlation between the price students pay and the cost of providing the educational services.
D) The quality of education would deteriorate.
B
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Everything else equal, if the dollar depreciates against the Chinese yuan:
A) China will stop trading with the U.S. B) China will import more from the U.S. and will export less to the U.S. C) China will export more to the U.S. and will import less from the U.S. D) the Chinese government will buy yuan from the foreign exchange market.
If choice architects frame choices in terms of social norms people will:
A. behave with the majority. B. be unaffected by what the majority is doing. C. behave in the opposite way, because "going rogue" is celebrated in our culture. D. behave according to how they view that norm.
Consumption or household spending of an economy comprises of both consumer spending and business spending
a. True b. False Indicate whether the statement is true or false
If an economy is operating at short-run equilibrium below the level of real GDP, the self-correction model result is that:
A. unemployment increases. B. unemployment falls. C. cyclical unemployment increases. D. frictional and structural unemployment increase.