Trends in educational attainment in the U.S. since 1960 indicate that the percentage of adults:
A. Completing high school has been rising, and so has the percentage who do not go to high
school nor complete elementary school
B. Completing college has been rising, and so has the percentage completing high school
C. Completing college has been constant, but the percentage completing high school has
been rising
D. Who do not go to high school has been falling, but the percentage who do not complete
elementary school has been rising
B. Completing college has been rising, and so has the percentage completing high school
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In the long run, an increase in the quantity of money leads to
A) a smaller percentage increase in the real interest rate. B) a smaller percentage increase in the price level. C) an equal percentage increase in the price level. D) no effect on the price level or on real GDP. E) an equal percentage increase in the real interest rate.
Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1
What is the value of Nick's consumer surplus for the milkshakes he buys? A) $2 B) $9 C) $3 D) $10
It may seem paradoxical but according to ___________ when tax rates increase—at least beyond a certain rate—tax revenues fall and when tax rates fall, tax revenues increases
a. Professor Phillips and other neo-Keynesian economists b. Professor Laffer and other supply-side economists c. Professor Ricardo and other classical economists d. Professor Barro and other rational expectations economists e. Professor Samuelson and other Keynesian economists
The knowledge and skills possessed by the workforce is known as
A. Human finance. B. Human capital. C. The inequality trap. D. Investment capital.