Suppose a total of? 2,500 students are allowed in the engineering programs at all of the colleges in a particular city. From the previous three? years' record, it shows that the number of students who enroll in the entrance exam for the engineering program increases if there is an increase in the number of IT recruiters the previous year.This year there is a total of? 3,200 students who have enrolled to take the entrance exam of which only up to? 2,500 of those who passed would get in. Based on either the? students' perspective or the college? perspective, what combination of economic key concepts does the situation? follow?
A. Equillibrium and empiricism
B. Optimization and empiricism
C. Optimization, equillibrium, and empiricism
D. Optimization and equillibrium
C. Optimization, equillibrium, and empiricism
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What can, in general, be said about a monopoly's supply curve?
a. A monopoly's supply curve, like that for a competitive firm, coincides with its marginal cost curve. b. A profit-maximizing monopoly will operate only on the elastic portion of its supply curve. c. The monopoly's supply curve is more inelastic than if the firm were competitive. d. The concept of a supply curve is meaningless in the context of the monopoly problem.
The AD curve shifts to the right with a __________ in government purchases (G) or a __________ in taxes
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
It is not true of profits that they
A. are what remains from the selling price after factors have been paid. B. accrue to entrepreneurs. C. account for a relatively small portion of national income. D. account for about as much national income as wages and salaries.
Of all Medicaid spending, ________ goes for the health needs of children.
A. 20% B. 13% C. 35% D. 50%