Consider the market for university economics professors. Suppose the opportunity cost of going to graduate school to get a Ph.D. in economics decreases for many individuals. Suppose it generally takes about five years to get a Ph.D. in economics. Holding all else constant, in five years the equilibrium quantity of university economics professors will
a. increase.
b. decrease.
c. not change.
d. It is not possible to determine what will happen to the equilibrium quantity.
a
Economics
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Historical actions indicate that the Fed's primary goal of monetary policy over the past 30 years has been to
A) maintain high interest rates. B) keep employment rates low. C) limit the availability of consumer credit. D) prevent high rates of inflation.
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Negative externalities are benefits that people lose in a transaction
Indicate whether the statement is true or false
Economics