In symbolic terms where Y equals real GDP, POP equals total population, and N equals the number of employed workers, Y/POP must equal:
A. N/Y × POP/N.
B. Y/POP × N/POP
C. N/Y × N/POP
D. Y/N × N/POP.
Answer: D
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A) exclusive B) inclusive C) dependent D) independent
A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the enrollment
If the university wants to increase its total revenue, it should ________ tuition because the demand for education at this university is ________. A) raise; elastic B) not raise; elastic C) raise; inelastic D) not raise; inelastic
The potential for redistribution cannot be exaggerated
Indicate whether the statement is true or false
Under adaptive expectations theory, people persistently:
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