National defense and knowledge are generally considered to be
a. private goods.
b. public goods.
c. proprietary goods.
d. societal goods.
b
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The price of non-work activities is:
A) zero. B) equal to the opportunity cost of those activities. C) less than the opportunity cost of those activities. D) greater than the opportunity cost of those activities.
Compared to the present value of a high school education, the present value of at least a college education is
a. 100 times as great b. nearly double c. the same d. about half e. Present value cannot be used to analyze education
As output rises, marginal product eventually diminishes and
a. marginal cost increases. b. total cost falls. c. fixed cost increases. d. average product becomes negative.
One advantage of emissions permits is that they allow the government to choose the level of pollution reduction.
Answer the following statement true (T) or false (F)