Recall the Economics in Practice on p. 371: According to a study discussed in the Economics in Practice, ________ matters in terms of an individual's future earnings.

A. teacher quality
B. the gender of teachers
C. the age of teachers
D. class size


Answer: A

Economics

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If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?

A) p = MC B) MR = MC C) p ? AVC D) All of the above

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Aggregate demand is the sum of

a. C + I + G + (X ? IM). b. C + I + X. c. C + I + X ? IM. d. C + I + G.

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An outside lag is

A) a policy aimed at increasing GDP. B) a policy aimed at reducing GDP. C) a lag in implementing policy. D) the period of time it takes for policies to work.

Economics

Unions often have the power to push wages above competitive levels.

Answer the following statement true (T) or false (F)

Economics