Which of the following is a false statement about education in the HPAE?
A) An emphasis on state funding of advanced degree programs, such as engineering and computer science, increased manufacturing production significantly.
B) Literacy rates rose dramatically in the HPAE and laid a foundation for a skilled labor force.
C) As the average educational level rose, workers could take on more technological, sophisticated production, pushing new investment into product lines.
D) Spending was focused on the primary and secondary level, where it has the greatest social impact.
A
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If a government chooses to finance a budget deficit by borrowing and the expected inflation rate does not change, this will cause the real interest rate to ________ and the nominal interest rate to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
According to the Taylor rule, the Fed will set the federal funds rate target based on which of the following?
A) an estimated long-run real interest rate B) the current deviation of the actual inflation rate from the Fed's inflation objective C) the proportionate gap between actual real GDP and a measure of potential real GDP D) all of the above
Average total cost:
A. decreases when output levels are low, then increases as output increases. B. increases when output levels are low, then decreases as output decreases. C. is minimized when it equals average variable cost. D. is maximized when it equals marginal cost.
About two-thirds of the reduction in tariffs in the past 20 years comes from:
A. reforms by national governments changing their own policies or making agreements with each other. B. the work of the WTO, World Trade Organization. C. specific funding directed at encouraging trade through subsidies by the World Bank. D. None of these statements is true.