Equity is synonymous with fairness.
Answer the following statement true (T) or false (F)
True
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Suppose you had information on the sales of similar homes just east and just west of the boundary between two school districts. How could you use those data to estimate the value parents place on the quality of their children's schools?
What will be an ideal response?
Standby letters of credit
A) are a form of swaps. B) are a promise by a bank to lend the borrower funds to pay off its maturing commercial paper. C) are a promise by a large depositor to provide additional funds to a bank should the bank face an unexpectedly large deposit outflow. D) represent the unused balance on a bank credit card.
Economists refer to the simple relationship between consumption and disposable income as:
a. autonomous consumption. b. the marginal propensity to consume. c. the absolute disposable income hypothesis. d. disposable income. e. the consumption function.
Exhibit 4-11 Data on supply and demand Bushels demandedper month Price perbushel Bushels suppliedper month 45 $5 77 50 4 73 56 3 68 61 2 61 67 1 57 Which of the following would occur if the government imposed a price floor (support price) of $4 per bushel in the wheat market shown in Exhibit 4-11?
A. Buyers would want to purchase more wheat than is supplied. B. Buyers would not purchase all of the wheat grown. C. Shortage of wheat would increase the price of wheat. D. Farmers would grow less wheat.