We know that going to college pays off. For example, we know that college graduates earn
Answer: A median annual income that is approximately $20,000 higher than high school graduates
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If goods are produced abroad but consumed domestically,
a. those goods are termed imports b. international trade has not occurred c. the domestic economy is economically inefficient d. there are no gains from specialization e. those goods are termed exports
A production possibilities frontier separates an attainable region from an unattainable region
Indicate whether the statement is true or false
Keynes believed in all of the following, EXCEPT
A. The ideas of economists and political philosophers are more powerful than is commonly understood. B. The problem with recessions was inadequate aggregate demand. C. Say's Law. D. There was absolutely nothing wrong with deficits during recessions and depressions.
Among the most important demand side factors explaining homes prices would be the
A. average wage paid to carpenters. B. cost of lumber. C. number of homebuilders. D. income of potential homebuyers.