Why does the opportunity cost of your college education include money you could have earned working instead of going to college?
A. Because most people who don't go to college work instead.
B. Because the best alternative use of your time is working.
C. Because people should be productive members of society.
D. Because working a full time job takes as much time as going to college.
Answer: B
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Queuing is a way to ration goods
A) on a first-come, first-serve basis. B) through prices. C) through the use of political power. D) through markets.
A government surplus has the effect of :
a. Increasing the demand for real loanable funds, increasing the real risk-free interest rate, and increasing the quantity supplied of real loanable funds per period. b. Increasing the supply of real loanable funds, reducing the real risk-free interest rate, and increasing the demand for real loanable funds. c. Decreasing the supply of real loanable funds, increasing the real risk-free interest rate, and decreasing the quantity demanded of real loanable funds per period. d. Decreasing the supply of real loanable funds, increasing the real risk-free interest rate, and decreasing the demand for real loanable funds per period. e. Increasing the supply of real loanable funds, reducing the real risk-free interest rate, and increasing the quantity demanded of real loanable funds per period.
When an industry is characterized by technology spillover, what should the government do to ensure that the market equilibrium equals the socially optimal equilibrium?
a. Impose a tax greater than the value of the technology spillover. b. Not allow production of any product that causes a technology spillover. c. Provide a subsidy equal to the value of the technology spillover. d. Require producers to "clean up" any spillover that results from their production process.
American Recovery and Reinvestment Act 2009 calls for
A) both tax reductions and government spending reductions. B) both tax reductions and government spending increases. C) both tax increases and government spending increases. D) both tax increases and government spending reductions.