In 2014, the U.S. spent ________ to educate ________ elementary and secondary school students.
A. $599 billion; 110 million
B. $700 billion; 63 million
C. $440 billion; 152 million
D. $223 million; 152 million
Answer: B
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The income effect of an increase in the price of hominy grits (an inferior good) is a(n)
a. decrease in the demand for hominy grits b. decrease in the quantity demanded of hominy grits c. increase in the demand for hominy grits d. increase in the quantity demanded of hominy grits e. new demand curve because everything else is no longer constant
CEOs must create value for shareholders to be successful
Indicate whether the statement is true or false
Which of the following is most likely a private good?
A.) Police protection B.) Cars C.) Highways D.) Parks
In an open outcry English auction, ________
A) the bidders begin the bidding process with a high starting bid B) the auctioneer begins the bidding process with a high starting bid C) the auctioneer begins the bidding process with a low starting bid D) the bidders decide the starting bid