Charter schools generally receive more funding than traditional public schools
a. True b. False
b
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If the deficit is 0.1 times GDP, the existing debt—GDP ratio is 0.5, and the growth rate of nominal GDP is 0.04, then the change in the debt—GDP ratio is
A) +0.08 B) +0.075. C) 0. D) -0.075.
When rent controls establish a legal maximum rental rate below the equilibrium rental rate
A) quantity demanded exceeds quantity supplied. B) quantity supplied exceeds quantity demanded. C) demand exceeds supply. D) supply exceeds demand.
Holding all variables constant but one and assessing the impact of the one variable that has changed is an example of using
A. the ceteris paribus assumption. B. an untestable proposition. C. an economic model based on unrealistic assumptions. D. a flawed economic model.
An oligopoly is a market situation in which
A) there are many firms producing differentiated products. B) there is a single firm producing several varieties of a product. C) all the sellers act independently of the others. D) there are very few sellers and they recognize their strategic dependence on one another.