Elite colleges and universities use standardized test scores (such as SAT and ACT scores) and high school grades as
A) a means to raise student utility.
B) a means to turn a university education from a "good" to a "bad."
C) rationing devices.
D) none of the above
C
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
When the percentage change in the quantity supplied equals the percentage change in price, the supply is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
What do demand and marginal revenue curves look like in monopolistic competition? How do they compare to the demand and marginal revenue curves in perfect competition and monopoly?
What will be an ideal response?
IMF conditionality refers to the
A) technical assistance the IMF gives. B) minimum size of a national debt problem that a country must have before the IMF gets involved. C) minimum-sized loan the IMF will make. D) maximum-sized loan the IMF will make. E) changes a country must make in order to receive IMF financial assistance.