The amount of government spending on education per public school student has ________ since 1960, and the achievement level of students has generally ________ since that time
A) increased; increased
B) decreased; decreased
C) increased; decreased
D) decreased; increased
Answer: C
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Use the figure below to answer the following question.
If a price floor in this market is set at P2, then deadweight loss equals area
A. d. B. f. C. b + d. D. d + h.
For choice sets emerging from "exogenous" income, the budget line will shift parallel whenever both prices change by the same percentage.
Answer the following statement true (T) or false (F)
An assumption of classical growth theory is that when ________ the population growth rate ________
A) real GDP per person exceeds the subsistence level; increases B) people become more skilled; decreases C) the real wage rate falls; increases D) saving declines; decreases
Economists refer to pricing the same good at two or more different prices to two or more different consumers as
a. price differentiation b. price discrimination c. price fixing d. price collusion e. unfair pricing