College graduates earn much more than grade school dropouts mainly because
A. the college graduate is older.
B. the college graduate has learned more.
C. the college graduate is probably smarter, richer, more motivated, has better connections, and comes from a more supportive learning environment.
D. the college graduate is more likely to have grown up in a large city, and to be more cosmopolitan.
C. the college graduate is probably smarter, richer, more motivated, has better connections, and comes from a more supportive learning environment.
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When there is a positive externality associated with the watering of one's lawn, the free market results in:
a. not enough lawn watering. b. too much lawn watering. c. the socially optimal level of lawn watering. d. people watering each other's lawns. e. government subsidies for lawn watering.
An example of price discrimination is the price charged for:
A. coffee. B. college admission. C. cashmere sweaters. D. cough syrup.
The prices of the products in the World War II POW camps, measured in terms of cigarettes, reflected the products':
A. costs of production. B. retail prices. C. practicality. D. scarcity.
The percentage of U.S. citizens living below the poverty line is higher today than it was for most of the 1970s.
Answer the following statement true (T) or false (F)