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) rise above 75
B) fall below 75
C) change from 75 but the direction is unclear
D) still equal 75
A) rise above 75
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Which of the following groups within the Federal Reserve System is primarily concerned with public relations?
A) The Federal Open Market Committee B) The Federal Advisory Council C) The Federal Reserve Bank presidents D) The Board of Governors
Income on the horizontal axis at which the vertical distance to the 45-degree line is less than the vertical distance to the Ep line gives rise to a ________ amount of unplanned inventory investment, and thus ________ pressure on output
A) positive, upward B) positive, downward C) negative, upward D) negative, downward
A worker's "real" wage is related to:
a. his productivity in the workplace. b. the value of his production to his employer. c. the nation's absolute advantage in production of that product. d. his productivity in the workplace, the value of his production to his employer, and the nation's absolute advantage in production of that product.