Standardized tests are used in efforts to
A. save on paper waste.
B. make schools more accountable.
C. give teachers more time off.
D. shorten school hours.
B. make schools more accountable.
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Referring to Figure 19.1, the dollar is likely to appreciate if the exchange rate is either ________ or ________ pesos to the dollar
A) 10; 11 B) 11; 12 C) 12; 13 D) 13; 14
The marginal social cost of production is:
A. the sum of the total cost to the producer and the total external cost. B. the sum of the marginal cost to the producer and the total external cost. C. the sum of the total cost to the producer and the marginal external cost. D. the sum of the marginal cost to the producer and the marginal external cost.
The marginal cost of a good is equal to the: a. change in fixed costs as output changes
b. change in implicit costs as output changes. c. change in variable costs as output changes. d. change in opportunity costs as output changes.