When people are educated, they become:
A. more productive to society, because they have more skills to apply to a job.
B. more productive to society, because they are paid more.
C. less productive to society, because they require higher pay per hour.
D. less productive to society, because they stop working while in school.
Answer: A
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In 2011, apples cost $1.49 a pound. Suppose the CPI was 120 in 2011 and 140 in 2012. If there is no change in the real price of an apple in 2012, what is the price of a pound of apples in 2012?
A) $2.74 B) $1.69 C) $1.66 D) $1.74 E) $1.28
What are the arguments against the redistribution of income?
What will be an ideal response?
Using the above table, what is the opportunity cost of moving from alternative C to alternative D?
A) 60 loaves of bread B) 2 loaves of bread C) 30 loaves of bread D) 1/2 loaf of bread
The points along the demand curve represent the maximum price consumers are willing to pay for various quantities of a product.
Indicate whether the statement is true or false.