SAT scores are ________ than they were in the 1960s, ________ they were in 1980.
A. lower; and much lower than
B. higher; and much higher than
C. lower; but about the same as
D. lower; but higher than
Answer: D
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In the Keynesian cross diagram, an increase in autonomous consumer expenditure causes the aggregate demand function to shift ________ and the equilibrium level of aggregate output to ________,
everything else held constant. A) up; rise B) up; fall C) down; rise D) down; fall
Because many immigrants are in low-paying jobs, they do not own homes but rent houses or apartments instead, and so they do not pay property taxes. What effect does this have on local tax revenue?
a. Very little, because landlords pay property taxes on rental units, which is reflected in the amount of rent charged b. A moderate impact, because most immigrant taxes go to the state in the form of income and sales tax c. A large impact, because immigrants use local services such as schools but do not pay for them d. A small impact, because most communities have few immigrants, and therefore the taxes they pay are negligible
A business produces eight items and sells them for $25 each. The total cost of producing the items is $190 for explicit costs and $200 for implicit costs. Accounting profit is:
A. $20. B. $200. C. ?$190. D. $10.
Which of the following would likely cause the dollar to depreciate?
a) Rising interest rates in the United States. b) An increase in United State citizens' preference for foreign goods. c) Income growth of the United States lagging behind that of other countries. d) Lower inflation in the United States.