The government provides public education because
A) public education is a public good.
B) public education is non-rival and nonexclusive.
C) private education is rival and exclusive.
D) public education combats the negative externalities of private education.
E) public education provides positive externalities.
E
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What do economists mean by "consumer equilibrium?"
Answer the following statement(s) true (T) or false (F)
1. Married women generally earn less than married men. 2. Some employers discriminate to reduce information costs. 3. Poverty thresholds fail to account for inflation. 4. Poverty dropped during the 1960s. 5. In 2016, the highest poverty rate was among those aged 65 or older.
Bushels Demanded Per MonthPrice Per BushelBushels Supplied Per Month45$57750473563686126167157Refer to the above data. If the price in this market was $4:
A. buyers would want to purchase more wheat than is currently being supplied. B. there would be a shortage of wheat. C. farmers would not be able to sell all their wheat. D. the market would clear; quantity demanded would equal quantity supplied.
One advantage of a value added tax over a sales tax is _____
a. that it does not require that retail and wholesale purchases be distinguishable b. it is easier to compute c. it is easier for taxpayers to see and compute d. it is easier to collect