At college X and at college Y, students pay $3,000 less than the equilibrium tuition. If the supply of openings is the same at both colleges, it follows that a shortage of openings will be greater at
A) college X than college Y.
B) college X than the surplus at college Y.
C) college Y than the surplus at college X.
D) college X than college Y if the demand is greater at college X.
E) ?college X than college Y if the demand is less at college X.
D
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Suppose in a purely competitive market that American firms consider labor costs to be mostly variable while Japanese firms consider labor costs to be mostly fixed
What implication would this have for the viability of firms in each country if they compete with one another in the short run? What about the long run?
A country that dollarizes
A) maximizes its seignorage. B) earns the same amount of seignorage as it would with a currency board. C) earns the same amount of seignorage as it would with exchange-rate targeting. D) eliminates its seignorage. E) must pay seignorage to other governments to use their currency.
Over the last 40 years in the U.S
a. output and real wages have increased, while the capital-to-labor ratio has remained constant. b. output, real wages, and the capital-to-labor ratio have all increased. c. output has increased while real wages and the capital-to-labor ratio has remained constant. d. output and real wages have increased, while the capital-to-labor ratio has fallen.
If nominal GDP increases by 2 percent and the price level drops by 1 percent, real GDP:
A. increases by 3 percent. B. increases by 1 percent. C. decreases by 1 percent. D. decreases by 3 percent.