Grade inflation at colleges and universities is _________ to general price inflation in that ______________
A) similar; both can be deceptive.
B) not comparable; it is impossible for grades to be inflated.
C) similar; grades tend to go up when prices are rising.
D) not comparable; grades tend to fall while prices tend to rise.
A
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Refer to Figure 17-1. Suppose that the economy is currently at point A, and the unemployment rate at A is the natural rate. What policy would the Federal Reserve pursue if it wanted the economy to move to point C in the long run?
A) Increase the money supply. B) Buy treasury bills. C) Lower the discount rate. D) Sell treasury bills. E) No policy will move the economy to point C in the long run.
The expectation of future revaluation causes a balance of payments crisis marked by
A) a sharp rise in reserves and a fall in the home interest rate below the world interest rate. B) a sharp fall in reserves and an even bigger fall in the home interest rate below the world interest rate. C) a sharp fall in reserves and a rise in the home interest rate above the world interest rate. D) a sharp rise in reserves and an even greater rise in the home interest rate above the world interest. E) a sharp fall in reserves and an unchanged home interest rate.
A temporary increase in income today leads to
A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.
A seller's opportunity cost measures the
a. value of everything she must give up to produce a good. b. amount she is paid for a good minus her cost of providing it. c. consumer surplus. d. out of pocket expenses to produce a good but not the value of her time.