From 1960 to 2010, the amount of money spent on K-12 education has ________ in dollar terms, ________ in real terms, and ________ in real dollars per student terms.
A. increased; decreased; increased
B. increased; increased; increased
C. decreased; increased; decreased
D. increased; decreased; decreased
Answer: B
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When a firm is producing at the profit maximizing level of out put and P > ATC, the firm is:
A) breaking even. B) incurring an economic loss. C) earning an economic profit. D) earning a profit or incurring a loss depending on the level of total fixed costs.
If the world real interest rate were 6% and the domestic real interest rate in Denmark was 9%, borrowers in Denmark would borrow at the rate of ________ and lenders in Denmark would lend at the rate of ________
A) 6%; 6% B) 6%; 9% C) 9%; 6% D) 9%; 9%
When a firm uses profits to purchase new capital equipment, it is engaging in
A) tax evasion. B) balance sheet accounting. C) reinvestment. D) the most risky way the firm can obtain investment funds.
The contribution to output growth of technological progress is estimated by how much of the output growth can be explained by the growth in inputs
Indicate whether the statement is true or false