Education yields positive externalities. For example,
a. colleges and universities have benefited, in recent years, from increases in tuition paid by students.
b. as a result of earning a college degree, a person becomes a more productive worker and benefits by earning higher wages.
c. a more educated population tends to result in lower crime rates.
d. All of the above are correct.
c
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An implication of the downward slope of the demand curve for a monopolistic competitive firm is that
A) its marginal revenue curve slopes upward. B) its marginal revenue curve and its demand curve are identical (same) line. C) its marginal revenue curve slopes downward but lies above the demand curve. D) its marginal revenue curve slopes downward but lies below the demand curve.
Which of the following is true of regulation?
A) Mortgage lending and banking have historically been unregulated and therefore regulation in these sectors is unpopular. B) Regulatory agencies often ignore the secondary effects of their actions and fail to foresee future problems. C) Policy-makers are hesitant to call for new regulations even when it is clear they would help avert future crises. D) Past regulations have been effective at averting crises, but they are unpopular because they reduce the profitability of the regulated industry.
Why is it difficult for policy makers to rely on the theoretical discussion of the money multiplier to target the money supply?
A. The equation of exchange has been proven to be wrong. B. There is no good measure of reserves in the economy. C. The use of quantitative easing has made it impossible to accurately determine the money supply. D. The amount of excess reserves and cash in the system varies.
The statement that GDP = C + I + G + X - M is an identity, because _______.
a. trade surpluses can be either good or bad b. trade deficits can be either good or bad c. it is true according to the definition of GDP d. each trade is conducted on a voluntary basis