Janet Woo Received the Following Grades in an Accounting Class

question 33

Multiple Choice

Janet Woo received the following grades in an accounting class at Mclennan Community College: 65, 80, 70, 100, 75, and 90. The instructor said he would drop the lowest grade. What is Janet's average?

• A)81
• B)83
• C)84
• D)82
• E)None of these

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Definitions:

Consumption Function

As income rises, consumption rises, but not as quickly.

John Maynard Keynes

A British economist whose theories on government intervention in economies (Keynesian economics) have greatly influenced modern macroeconomic policies, particularly regarding the use of fiscal and monetary measures.

Karl Marx

A 19th-century philosopher, economist, and political theorist known for his critique of capitalism and the development of Marxist theory.

Milton Friedman

An influential American economist and Nobel laureate known for his strong belief in free-market capitalism and minimal government intervention.