The figure above shows the market for college education in the United States. The efficient quantity of college education is ________ students per year
A) 10 million
B) 12 million
C) 17 million
D) 18 million
E) 14 million
E
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Consider the market for wheat. If there is an improvement in harvesting technology,
A) the demand curve for wheat shifts rightward. B) the demand curve for wheat shifts leftward. C) there is a movement up along the demand curve. D) the supply curve for wheat shifts rightward. E) the equilibrium price rises.
If a good has zero external costs, then
A) marginal social cost equal marginal private cost. B) marginal social cost is greater than marginal private cost. C) marginal social cost is less than marginal private cost. D) we need more information to determine the relationship between private and social costs.
Someone was just laid off from a job. Given what you know about the unequal distribution of civilian unemployment, to which of the following groups does this person most likely belong?
A. white male with a bachelor's degree B. African American female with a bachelor's degree C. Hispanic female with a high school diploma D. African American male teenager with less than a high school diploma
Respond to the following statement with a brief explanation: "The Federal Reserve can improve the performance of the stock market but it cannot prevent a stock market crash."
What will be an ideal response?