The school of engineering at a modern university would be a supporter of the new
a. consumption theory.
b. growth theory.
c. monetary theory.
d. construction theory.
b
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The statement, "John buys more of good X as his income increases, Ceteris paribus," means:
a. John's income is being held constant. b. John's purchases of good X are being held constant. c. John's income and purchases of this good are being held constant. d. the price of this good is being allowed to change.
The unemployment rate for people with less education typically is ________________ than for those with higher levels of education.
a. lower b. longer c. higher d. shorter
The government imposed a tax that reduced total consumer and producer surplus by five million dollars, resulting in a deadweight loss of one million dollars. How much tax revenue went to the government?
a. 11 million dollars b. 6 million dollars c. 4 million dollars d. 1 million dollars
When there are two large open economies, the world real interest rate will be such that
A. desired international lending by one country equals desired international borrowing by the other country. B. desired international lending will be the same in both countries. C. desired international lending and borrowing will be zero in both countries. D. desired international borrowing will be the same in both countries.