Smith sends her children to a private school on the other side of town. Tuition per student per year is $15,000. Jones sends her children to a public school on her side of town. Tuition per student per year is $0. Most people seem to think that the private school and public school are equivalent when it comes to educating students. According to a theory discussed in the textbook,
A) Smith lives in a more expensive home than Jones.
B) Jones lives in a more expensive home than Smith.
C) Smith and Jones live in homes that are priced the same.
D) Smith lives in a larger home than Jones.
E) none of the above
E
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If the Fed decides that it wants to lower the unemployment rate, it ________ the growth rate of aggregate demand by ________ the growth rate of money and ________ interest rates
A) accelerates; accelerating; lowering B) reduces; accelerates, lowering C) accelerates; reducing; lowering D) accelerates; reducing; raising E) accelerates; accelerating; raising
If a monopoly is maximizing profits:
a. price will always be greater than average cost. b. price will always equal marginal cost. c. price will always be greater than marginal cost. d. price will always equal marginal revenue.