The price level is determined by the supply of, and demand for, money
a. True
b. False
Indicate whether the statement is true or false
True
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Recently, the State of Tennessee discovered chemical compounds in their drinking water which may cause cancer. Since Tennessee's drinking water comes from the Pigeon River in North Carolina, the source of these chemicals is the waste discharges of industrial paper plants in North Carolina. This is an example of a(n):
a. external cost imposed on the citizens of Tennessee by the industrial plants of North Carolina. b. market failure where the market price of the output of these industrial plants does not fully reflect the social cost of producing these goods. c. externality where the marginal social costs of producing these industrial goods differ from the marginal private costs. d. all of these.
Consider the market for medical doctors. Suppose the opportunity cost of going to medical school decreases for many individuals. Suppose it generally takes about ten years to become a practicing doctor. Holding all else constant, in ten years the equilibrium wage for doctors will
a. increase. b. decrease. c. not change. d. It is not possible to determine what will happen to the equilibrium wage.
All of the following are aspects of microeconomics EXCEPT
A. a worker choosing one job over another. B. monopolies. C. a firm maximizing profit. D. the average level of prices of all goods and services produced in a country in a year.
Which procedure or test investigates the officer's preparation, decisionmaking skills, relations with others, and knowledge and application of departmental policy?
A) oral interview board B) situational test C) performance appraisal D) written promotional test