It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation.
B. credentialism.
C. cretinism.
D. diplomacy.
Answer: B
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Currently in the United States, the ________ must examine the facts of each resale maintenance case using the ________.
A) Supreme Court; hardcore restriction approach B) lower courts; rule of reason approach C) Supreme Court; rule of reason approach D) lower courts; hardcore restriction approach
When total expenditures are greater than total production, __________ is produced than households want to buy, which leads to __________ in inventory, which signals firms that they have __________, which causes firms to increase production
A) less; decreases; underproduced B) more; increases; underproduced C) less; increases; underproduced D) more; decreases; overproduced
If the economy is currently operating below its institutional production possibilities frontier (institutional PPF), it is
A) in long-run equilibrium. B) in a recessionary gap. C) in an inflationary gap. D) definitely not self-regulating. E) b and d
The midpoint formula for elasticity of demand solves the problem of:
A. whether elasticity of demand is really positive or negative. B. whether to use quantity or price in the numerator. C. which price or quantity to use as the initial value of the variable. D. whether to use quantity demanded or supplied.