Throughout the developing world, teacher absenteeism
A. is much lower than it is in developed nations.
B. has a much smaller impact on education than does student absenteeism.
C. is a problem that affects education.
D. is virtually unheard of.
Answer: C
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If you spend a large portion of your income on a good,
A) supply of that good would be price elastic. B) demand for that good is more elastic than if you spent a smaller portion of your income on the good. C) supply of that good is price inelastic. D) demand for that good is less elastic than if you spent a smaller portion of your income on the good. E) the good must be able to be produced at a constant (or gently rising) opportunity cost.
When the demand for money becomes less responsive to changes in income, the LM curve becomes ________ and it also shifts to the ________
A) flatter, left B) flatter, right C) steeper, left D) steeper, right
Perfect income equality means:
A. everyone earns exactly what they're worth. B. everyone earns the exact same amount. C. people earn different amounts based on what they do, but everyone in the same job earns the same amount. D. everyone enjoys exactly the same standard of living.
In the short-run macro model, what is the relationship between income and investment spending?
a. It is positive and stable. b. It is positive but unstable. c. It is negative and stable. d. It is negative but unstable. e. There is no relationship between the two variables.