In 2003, the per-capita income in China was roughly ________ of that in the U.S
A) one hundredth
B) one eighth
C) one half
D) the same as
E) one twentieth
B
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Each of the following would cause an increase in the supply of baseballs EXCEPT
A) an improvement in technology. B) a decrease in the cost of labor used to produce baseballs. C) an expectation that the price of baseballs will rise in the future. D) an increase in the number of baseball producers.
To decrease anxiety in its most accomplished teachers, a school decides to offer them tenure, to help them concentrate on teaching better. Instead it notices that even the best of the teachers started to get sloppy with their work. The school did not foresee
a. Adverse selection b. Moral hazard c. All of the above d. None of the above
Figure 11-2
In Figure 11-2, at what price would the monopolist maximize profit?
A. E B. F C. G D. H
Crowding out can best be defined as
A. private investment increases growth rates and decreases deficits. B. restrictive monetary policy raises interest rates and decreases investment. C. government deficits increase interest rates and decrease investment. D. consumption spending increases interest rates and decreases investment.