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
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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
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.
Goods produced for the purpose of producing other goods are known as
A. Services. B. Consumption goods. C. Investment goods. D. Exports.
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