In the analysis of educational spending on outcomes, it is generally the case that
A. spending on raising teacher salaries and reducing class size matters.
B. only the spending on reducing class size matters.
C. neither higher salaries nor reduced class size matters.
D. only the spending devoted to raising teacher salaries matters.
Answer: C
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Specialization and exchange
a. generally leads to increased production of some goods at the cost of decreased production of other goods b. causes the production possibilities frontier to shift inward c. increases total production of every good only if the total amount of resources also increases d. alters the allocation of production among individuals or nations, but does not alter total production levels e. allows greater total production of every good without an increase in the total amount of resources
In 1972, one could buy model rocket engines for $1.50 each. If those same engines cost $2.50 each today, then which pair of CPIs would make the engine prices in today's dollars the same for both years?
a. 60 in 1972 and 95 today b. 60 in 1972 and 120 today c. 90 in 1972 and 150 today d. 96 in 1972 and 154 today
Macroeconomists would be most likely to study which of the following?
A. Average annual earnings of lawyers B. Average annual earnings of all employed workers in the United States C. Average annual earnings of doctors D. Average annual earnings of self-employed workers
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.