The lion's share of government spending on education in 2007 was done by
a. the private sector
b. state and federal governments
c. local and state governments
d. the federal government
e. the state governments
C
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Rebecca can stitch 6 shirts in a day while Eliza can stitch only 5 shirts in a day. Rebecca can stitch 2 trousers in a day while Eliza can stitch 3 trousers in a day. Which of the following is true in this case?
A) Rebecca has a comparative advantage in stitching trousers. B) Eliza has an absolute advantage in stitching trousers. C) Rebecca has an absolute advantage in stitching trousers. D) Eliza has a comparative advantage in stitching shirts.
The market mechanism provides a financial incentive for firms to minimize the pollution they create.
Answer the following statement true (T) or false (F)
Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
At this monopolist's profit-maximizing level of output, its total revenue equals the area:
A. 0HNC. B. 0FJB. C. ELJB. D. 0FLE.
What will happen to the price and quantity of a Government bond if the Fed takes action to increase the DEMAND for government bonds?
What will be an ideal response?