What does the fact that U.S. students are falling behind other nations' students in math and science have to do with economic growth?
A. Better technology, a key to economic growth, depends largely on math and science skills.
B. Math and science skills don't foster economic growth, but it takes math skills to calculate a nation's rate of economic growth.
C. If U.S. students don't excel in math and science, the nation will see fewer plays written and fewer pieces of music composed.
D. Nothing. People in the United States just don't like to fall behind in anything as a matter of pride.
Answer: A
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Economies of scale exist when
a. long-run average costs decline as output increases. b. long-run average costs are constant. c. long-run average costs increase as output increases. d. short-run average costs decline. e. short-run average costs increase.
What happens when a command-and-control regulation has been satisfied?
a. Polluters get a pollution charge tax break. b. Polluters have access to new marketable permits. c. Polluters have no incentive to do better. d. Polluters have many incentives to do better.
Which of the following is an example of fiat money?
A. Gold B. Paper dollars C. Solid silver coins. D. None of the above is correct.
Keynesians believe a change in the money supply cannot lower the unemployment rate.
Indicate whether the statement is true or false.