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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Trade restrictions imposed in the name of national security have been recommended by protectionists in order to:
a. develop strong defense-related industries. b. avoid dependence on foreign suppliers during wartime. c. reduce the necessity of stockpiling strategic supplies. d. all of these.
The main tradeoff to be considered when judging pro-growth policies is
a. foregone current consumption versus the current benefits of technological progress b. foregone current consumption versus the future benefits of technological progress c. foregone future consumption versus the future benefits of technological progress d. foregone future consumption versus the current benefits of technological progress e. government surpluses versus deficits in the future
Public goods could effectively be provided by private markets, but we choose to provide them through government.
Answer the following statement true (T) or false (F)
In an economy with no income taxes or imports, the marginal propensity to consume is 0.80. The expenditure multiplier is
A) 1.25. B) 10.0. C) 0.80. D) 5.00. E) 0.20.