In the year 2000, per pupil expenditures on education in the United States were around _____
a. $4000
b. $5000
c. $6000
d. $7000
d
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Which of the following statements is true?
A) Technological innovation can cause wages to fall for some workers. B) Technological innovation increases wages for all workers in an economy. C) Technological innovation always leads to unemployment in the economy as a whole. D) Technological innovation reduces the demand for goods and services in an economy.
Even if two competitive firms in the same market have different production technologies, they will each earn long-run zero profits. Why?
What will be an ideal response?
If a $30 increase in U.S. exports to France causes a $150 increase in U.S. national income, the value of the marginal propensity to consume in the U.S. is
a. 5 b. 0.20 c. 3 d. 0.80 e. not discernible given the information provided
What is the relationship between total product, marginal product, and average product shown by the law of diminishing returns?
Please provide the best answer for the statement.