When people determine the quantity of education they will undertake, they ________ the external benefits. As a result, if education were left to an unregulated market, people would undertake too ________ education
A) overvalue; much
B) ignore; much
C) ignore; little
D) overvalue; little
C
Economics
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A trade deficit occurs when:
A. tariffs exceed quotas. B. imports exceed exports. C. quotas exceed tariffs. D. exports exceed imports.
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When the price of audio books, a normal good, falls, causing your purchasing power to rise, you buy more of them due to
A) the deadweight loss effect. B) the elasticity effect. C) the income effect. D) the substitution effect.
Economics
Household spending on goods and services is known as
A) consumption spending. B) government purchases. C) net exports. D) planned investment spending.
Economics
Extensive growth is driven by
A) very high savings rates. B) rapid capital accumulation. C) improved multifactor productivity. D) A and B. E) all of the above.
Economics