The table above shows the marginal costs and marginal benefits of college education. With public provision of the efficient level of college education, tuition is
A) $10,000 per year.
B) $12,000 per year.
C) $14,000 per year.
D) $16,000 per year.
B
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Which of the following is an example of comparative statics?
A) The estimation of the supply of a good when the wage rate of labor changes from $30 to $10 per hour B) The estimation of the ideal number of workers a firm should hire when wage rate is $20 per hour C) The estimation of the quantity demanded of a good when its price is $5 D) The estimation of the demand for a particular good when consumer income is $10
Dina drives to work on Interstate 294 at 90 MPH, well in excess of the 65 MPH speed limit. Sandy is behind her, going 85 MPH. A state trooper pulls Dina over and gives her a speeding ticket. Sandy continues driving. If Dina had not been speeding, the trooper would have ticketed Sandy. In terms of externalities, this story shows that
a. the 10 MPH difference defines the difference bewteen a negative and positive externality b. Sandy enjoys a positive externality c. Dina suffers a negative externality d. Dina's driving habits created a negative externality for Sandy e. Sandy's driving habits created a negative externality for Dina
Budget surplus:
What will be an ideal response?
Which of the following was NOT a time period in which output in the U.S. sharply rose?
A. World War I B. the Roaring Twenties C. the early 1930s D. the 1960s E. the late 1990s