Twenty?five students in a class take a test for which the average grade is 75. Then a twenty?sixth student enters the class, takes the test, and scores 80. The test average calculated with 26 students will
A. fall below 75.
B. still equal 75.
C. rise above 75.
D. change from 75 but the direction is unclear.
Answer: C
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Purchasing additional equipment for more people to use or share in a production environment usually results in a
A) higher level of output. B) more expensive level of output. C) backlog of production. D) worker sharing his or her load.
In 2005, the cash assistance program with the highest total annual payments was TANF
Indicate whether the statement is true or false
Suppose that John Maestro, the owner of a tennis shop in Evanston, Illinois, decides to purchase a new machine that restrings tennis rackets in half the time it formerly took. The new technology costs $1,000 . and the MPC is 0.80 . How much real GDP will be generated from John's $1,000 initial investment?
a. $200 b. $500 c. $1,000 d. $2,000 e. $5,000
The economy is initially in long-run equilibrium. The AD curve shifts to the right and the price level rises. Assuming that the economy is self-regulating, the SRAS curve will shift to the left and the price level will rise even further. If the price level now remains constant, what have we witnessed?
A) one-shot demand-induced inflation B) continued demand-induced inflation C) one-shot supply-induced inflation D) one-shot inflation that was partly demand-induced and partly supply-induced E) continued supply-side inflation