Colleges and universities use such things as grade point averages and standardized test scores as
A) a measure of consumer utility.
B) non-price rationing devices.
C) a means to shift the supply curve for a college education.
D) solely to frustrate prospective students.
B
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Any value of the money supply chosen by the Federal Reserve implies a specific value for ________.
A. government purchases B. potential output C. the budget deficit D. the nominal interest rate
Refer to the accompanying figure. Moving from demand curve D2 to demand curve D1 could be caused by a(n):
A. increase in the price of a substitute. B. increase in the product's expected future price. C. increase in the price of a complement. D. increase in quantity supplied.
If governments operated like businesses, meaning their goal was to maximize profits, why would they likely never give up the power to print money to any other institution?
What will be an ideal response?
Refer to the graph below. If the output level is Q2, then there will be:
A. Allocative efficiency
B. Maximum deadweight losses
C. Maximum consumer surplus
D. Greater marginal benefits than marginal costs of the product