Which of the following has been found to be most effective in improving the quality of education?
A. Forcing students to study longer at home
B. Distributing textbooks
C. Providing parents with information about the quality of the children's schools
D. Training women in the community to offer supplemental lessons
Answer: D
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Which of the following would happen if a law were passed imposing a price ceiling that holds the interest rate charged on credit cards at a rate below the prevailing market rate?
a. The quantity demanded of credit card debt will decrease from its original level. b. The quantity supplied of credit card debt will increase from the original level. c. The quantity demanded will exceed quantity supplied. d. The quantity demanded and supplied of credit card debt would not change.
If only one good is supplied and demanded in an economy, then GDP will be equal to the price of the good multiplied by the number of units of the good supplied in a year
a. True b. False Indicate whether the statement is true or false
One of the assumptions underlying the production possibilities curve is that
A. there is at least one factor of production that is employed inefficiently. B. the quantity of the resources available for the production of economic goods is fixed over a given time period. C. at least one of the factors of production is a free good. D. some of the factors of production are not being used.
When a resource has a perfectly inelastic supply curve
A) the amount of economic rent for this resource is determined by its supply. B) the amount of economic rent for this resource is determined by demand for the resource. C) the amount of economic rent for this resource is determined by the government. D) there is no economic rent being earned by this resource.