School-based quotas would guarantee that top students at each high school be admitted to state colleges
Indicate whether the statement is true or false
T
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Consider the following:
(i) Can a good have both a downward-sloping Engel curve and a downward-sloping demand curve? Why or why not? (ii) Can a good have both an upward-sloping Engel curve and an upward-sloping demand curve? Why or why not?
The Japanese economy is stuck in a recessionary gap. The proper fiscal policy could include a(n)
a. decrease in taxes. b. increase in government purchases. c. increase in transfer payments. d. All of the above are correct.
The Bureau of Labor Statistics determines which prices are most important to the typical consumer by surveying consumers
a. True b. False Indicate whether the statement is true or false
Answer the following statement true (T) or false (F)
1) Higher user costs imply that a resource should be extracted more quickly. 2) The total cost of extracting and selling a resource in a given year is the sum of the extraction cost and user cost. 3) The higher a resource's current price, the more extraction should be delayed to a later period. 4) User cost is defined as the present value of the profit the company would earn if it delayed extraction until next year.