If government wishes to increase the quantity of higher education consumed, what can be done to accomplish this?
A) Charge tuition that is below the full costs of providing the educational services
B) Operate public colleges
C) Provide reduced tuition to students
D) Any of the above alternatives would increase the consumption of education
E) The government should not attempt to increase education, since it is a private good
Answer: D) Any of the above alternatives would increase the consumption of education
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When protection is encouraged to protect a growing domestic industry; which of the following is being used?
A) Anti-dumping argument B) Save domestic jobs argument C) National security argument D) Infant-industry argument E) Diversity and stability argument
The _____________ received funding from the federal government and two states
a. Chesapeake and Ohio Canal b. Erie Canal c. Pennsylvania Mainline Canal d. Cumberland and Oxford Canal
The perfectly competitive model assumes that: a. individual sellers can influence the market price
b. sellers can increase their total revenue by raising prices. c. firms can enter and exit the industry with relative ease. d. firms compete by varying a product's quality rather than a product's price.
Which of the following is a contractionary fiscal policy that decreases the level of aggregate demand?
a. reduced business taxes b. reduced government spending c. reduced payroll taxes d. reduced personal income taxes