Public schools
A. allow students to get an education without incurring any opportunity cost.
B. have done a better job of educating their students in science, math, reading, and writing as the subsidies they receive have increased over the years.
C. provide education at a price below the market price.
D. provide education at a price above the market price.
Answer: C
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Games with a noncooperative equilibrium:
A. always result in a negative-negative outcome. B. can result in either a positive-positive or negative-negative outcome. C. always result in a positive-negative outcome (zero-sum). D. always result in a positive-positive outcome.
If an economy experiences increasing opportunity costs with respect to two goods, then the production possibilities curve between the two goods will be
A. Bowed outward until the two goods are equal, and then bowed inward. B. Bowed outward or concave from below. C. Bowed inward or convex from below. D. A straight, downward-sloping line.
Which of the following is not a political jurisdiction?
A. Cook County B. Alabama C. New York City D. California research triangle
If, at the current exchange rate between the dollar and the South African rand of 6.92 rand per dollar, the rand is "undervalued," how do you expect demand and supply in the foreign exchange markets to respond?
A) The supply of the dollar will rise, while the demand for the rand will fall. B) The supply of the dollar will rise, while the demand for the rand will rise. C) The demand for the dollar will rise, while the supply of the rand will fall. D) The demand for the dollar will fall, while the supply of the rand will rise.