Equalization of resources across school districts would be less of a concern if _____
a. there was no link between spending and achievement
b. there was a strong link between spending and achievement
c. classroom teachers were better paid
d. taxpayers were willing to spend more
a
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In the figure above, the demand is inelastic in the range of prices between
A) $3.50 and $4.50 per cup B) $2.50 and $3.50 per cup C) $1.00 and $2.00 per cup D) $2.25 and $4.50 per cup E) $2.75 and $3.75 per cup
The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $6 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
A competitive market economy is unlikely to provide an efficient quantity of some public goods because:
A. only the government has the vast resources necessary to produce public goods. B. the nature of public goods makes it difficult for producers to withhold them from nonpaying consumers. C. the technology involved in the production of public goods makes it difficult for private firms to produce them even though, once produced, they could be marketed efficiently. D. private production of public goods generally results in a large amount of profit, which is difficult for a firm to effectively pay out to shareholders.
A strength of the market economy is that:
A. it results in an equal distribution of wealth. B. resources are used efficiently. C. planners rather than consumers determine answers to the basic economic questions. D. information for production and distribution decisions passes directly from the government to buyers.