Refer to Scenario 1 . The student has already taken 9 exams and scored a 80 on the 9th one. His average is a 70 after the 9th exam. If he scores a 70 on the tenth exam what will happen to his average?
What will be an ideal response?
His average after the 10th exam will remain unchanged at 70 . The reason is simple. Even though he scored lower than his previous exam score his score was equal to his average. This would have no impact on the average whatsoever.
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Real interest rates are the
A) interest rates quoted in the market. B) interest rates quoted in the market plus the expected inflation rate. C) nominal interest rates plus the inflation rate. D) interest rates quoted in the market minus the inflation rate.
An increase in the price of one good will cause
A. a parallel shift in the budget curve. B. an inside shift of the budget curve. C. an outward rotation of the budget curve. D. an inward rotation of the budget curve.
Figure 9-3
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In Figure 9-3, investment plus net exports equals
A. $200 billion. B. $400 billion. C. $600 billion. D. $800 billion. E. $1,200 billion.
One of the basic differences between social and economic regulations is that
A) economic regulations only apply to financial institutions while social regulations apply to a greater variety of institutions. B) social regulations only apply to non-profit organizations while economic regulations apply only to for-profit organizations. C) economic regulations cover only particular industries while social regulations apply to all firms in the economy. D) economic regulations focus on the banking industry while social regulations focus on monopolies.