Nearly a quarter of China's 1.3 billion people are under the age of 15. How will this affect high school enrollment over the next fifteen years? The labor market over the next fifteen years?
What will be an ideal response?
The demand for high school education will increase. The supply of labor over the next 15 years will increase.
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A change in the price level produces a ________ the aggregate demand curve. i. shift in ii. change in the slope of iii. movement along
A) i only B) ii only C) iii only D) i and iii E) i and ii
What is meant by the term "inflation targeting"? What is the Fed's objective regarding inflation?
What will be an ideal response?
If you decide to go to a movie on a Friday night rather than write a letter to your grandmother, you
A) are willing to deprive your grandmother of a letter simply in order to enjoy a movie. B) place more value on the movie than on your grandmother. C) would rather have fun than fulfill your responsibilities to your relatives. D) none of the above.
One likely result of monopoly power is
a. a wide variety of substitute products from which consumers can choose b. an elimination of barriers to industry entry c. a decline in government regulation d. a higher price than would exist in a competitive industry e. an improvement in allocative efficiency