When calculating the cost of college, which of the following should you probably include?
a. The cost of your meal plan for the cafeteria.
b. The cost of books required for college classes
c. The income you earn at your part-time job.
d. The cost of living in the dormitory.
b
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In general, GDP per capita is not highly correlated with alternative measures of quality of life
a. True b. False Indicate whether the statement is true or false
Goods that are heavily taxed, such as alcohol and cigarettes, often have:
a. relatively inelastic demand, such that the tax burden falls primarily on sellers and the deadweight loss associated with the tax is smaller than if demand were elastic. b. relatively elastic demand, such that the tax burden falls primarily on sellers and the deadweight loss associated with the tax is smaller than if demand were inelastic. c. relatively inelastic demand, such that the tax burden falls primarily on buyers and the deadweight loss associated with the tax is smaller than if demand were elastic. d. relatively elastic demand, such that the tax burden falls primarily on buyers and the deadweight loss associated with the tax is smaller than if demand were inelastic.
All students should go on to college.
A. True B. False C. Uncertain
If GDP is too high relative to potential GDP, which of the following happens?
A. Inflation rises B. Unemployment rises C. A recession begins D. Deflation occurs