Developing countries would benefit the most from a given increase in their education budgets if they spent more:
A. on primary and secondary education.
B. in a way that promotes credentialism.
C. on higher education.
D. evenly across all types of education.
Answer: A
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The three categories of federal government expenditures, in addition to government purchases, are
A) interest on the national debt, defense spending, and transfer payments. B) defense spending, Social Security, and Medicare. C) defense spending, budgets of federal agencies, and transfer payments. D) interest on the national debt, grants to state and local governments, and transfer payments.
If the total cost of producing 6 units is $228 and the total cost of producing 7 units is $245, what is the marginal cost of producing the seventh unit?
a. $35 b. $245 c. $3 d. $38 e. $17
The wage premium in the United States for college graduates over high school graduates has remained constant from 1978 to 2000
a. True b. False Indicate whether the statement is true or false
Which of the following most clearly illustrates the concept of "derived demand"?
a. An increase in the price of steak causes the demand for poultry to increase. b. An increase in the demand for new houses leads to an increase in the demand for construction workers. c. An increase in consumer income leads to an increase in the demand for services provided by the government. d. An increase in the demand for new cars causes the demand for used automobiles to rise.