Public education in the United States is
A) subsidized mainly by state and local governments.
B) funded by the federal government only.
C) paid for mostly by the parents of students.
D) paid for through the Social Security program.
Answer: A
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The following is a Cobb-Douglas production function: Q = 1.75K0.5•L0.5 . What is correct here?
a. A one-percent change in L will cause Q to change by one percent b. A one-percent change in K will cause Q to change by two percent c. This production function displays increasing returns to scale d. This production function displays constant returns to scale e. This production function displays decreasing returns to scale
A "satisficer" is a person whose decision making is the same as that predicted by mainstream economic models
a. True b. False Indicate whether the statement is true or false
Which of the following is true when a country's trade position is balanced (i.e., NX = 0)?
A) Demand for domestic goods is equal to the domestic demand for goods. B) Demand for domestic goods is greater than the domestic demand for goods. C) Demand for domestic goods is less than the domestic demand for goods. D) Neither a budget surplus nor deficit exists (i.e., G - T = 0).
The following is a monopolist’s employment schedule. What is the firm’s marginal resource cost when it hires the eleventh worker?
What will be an ideal response?