Public universities, by charging tuition ________ the marginal cost of education, ________ the number of students
A) below; decrease
B) below; increase
C) above; decrease
D) above; increase
B
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Sarah is a high school graduate and James is a college graduate. Which of the following statements is true?
A) Sara is likely to have more human capital than James. B) James is likely to have more human capital than Sara. C) Both Sara and James are likely to earn the same wage in the labor market. D) Both Sara and James are likely to have the same amount of human capital.
Each of the following is a provision of the 1996 welfare reform law except that
A. lifetime welfare benefits would be limited to five years. B. each state receives a lump sum to run its own welfare and work programs. C. any adult found guilty of a felony would be removed from the welfare rolls. D. future legal immigrants are banned from welfare assistance.
Continued inflation occurs
A) if there is a sustained increase in the price level. B) only if there is a sustained increase in the price of every good and service. C) only if there is a sustained increase in the price of every good and service by the same dollar amount. D) only if there is a sustained increase in the price of every good and service by the same percentage.
Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. For trade to be mutually beneficial for both countries, the terms of trade will be such that 1 computer will exchange for
A. Zero soybeans. B. More than 3 tons of soybeans but less than 5. C. Less than 1/5 of a ton of soybeans. D. More than 1/5 of a ton of soybeans but less than 1/3.