It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation.
B. credentialism.
C. cretinism.
D. diplomacy.
Answer: B
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Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $16 to $14 is
A. -3.29. B. -1.37. C. -0.33. D. -1.
Which of the following are examples of perfectly competitive markets?
A) Wheat B) Textiles C) Gold D) The stock market E) all of the above
Which of the following best resembles a perfectly competitive market?
a. a stock market b. the book publishing industry c. the steel industry d. the used car industry
Two years ago, the GDP deflator for Old York was 300, and today it is 330.75. Based on this information the annual average inflation rate for the two years was
A. 10.25%. B. 5.125%. C. 10%. D. 5%.