If basic literacy promotes a consistency of individual and social goals
a. social returns exceed private returns
b. private returns exceed social returns
c. the individual's income will rise
d. people should pay the full cost of their education
e. costs of education will be low
A
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Sellers in which of the following market structures are likely to have the highest market power?
A) Monopoly B) Oligopoly C) Perfect competition D) Monopolistic competition
A recession can be expected to reduce inflation in the economy if the recession is caused by a(n)
A. increase in aggregate demand. B. increase in aggregate supply. C. decrease in aggregate demand. D. decrease in aggregate supply.
Jack has a ticket to see the Foo Fighters for which he paid $30 yesterday. He takes an unpaid day off from work to get ready for the concert. When he arrives at the concert, five different people offer him $70 for his ticket. Jack decides to keep his ticket. At the time he makes this decision, his opportunity cost of seeing the Foo Fighters is:
A. $40. B. $70. C. $70 plus his foregone earnings. D. $30 plus his foregone earnings.
U.S. tariffs on imported goods:
A. have steadily increased since the 1970s. B. have declined since the 1940s and are currently around 5 percent. C. are currently around 20 percent. D. are illegal.