In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain.
B. human capital.
C. certification.
D. credentialism.
Answer: D
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A private firm that sustains a financial loss because of an antitrust violation may be able to recover three times the actual damages
a. True b. False
How does the value of land change when interest rates increase?
Opponents of using policy to stabilize the economy generally believe that
a. neither fiscal nor monetary policy have much impact on aggregate demand. b. attempts to stabilize the economy decrease the magnitude of economic fluctuations. c. unemployment and inflation are not cause for much concern. d. economic conditions can easily change between the start of policy action and when it takes effect.
Which of the following cause-effect statements predicts an outcome that is uncertain?
a. If a car travels 62 miles in an hour, it will reach a city 58 miles away in less than an hour. b. If the comet continues at its current speed, it will reach the earth’s atmosphere in two days. c. If I write every day, I will become a best-selling novelist. d. If I heat an ice cube, I’ll create water.