The figure shows the market for college education. In order for the efficient amount of education to occur, the government could provide a voucher of ________ per student

A) $4,000
B) $8,000
C) $12,000
D) $20,000
E) $16,000


B

Economics

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Which of the following is NOT a source of bias in the CPI?

i. quality change bias ii. new goods bias iii. quantity change bias A) ii and iii B) iii only C) i only D) ii only E) i and ii

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Bob's Barber Shop cut 3,000 heads of hair in 2016 and 3,100 in 2017. The price of a haircut was $7 in 2016 and $8 in 2017. If 2016 is the base year, what was Bob's contribution to real GDP in 2017?

A. $21,000 B. $24,800 C. $21,700 D. $24,000

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Classical unemployment can be caused by which of the following?

A. Efficiency wages B. Bargaining by unions C. Minimum wage laws D. All these create classical unemployment.

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Goods produced for the purpose of producing other goods are known as

A. Services. B. Consumption goods. C. Investment goods. D. Exports.

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