What happens in public schools when government funds subsidize education?
A. The quality of education rises.
B. The cost of providing the education is more than what the students pays.
C. There is a shortage of schools.
D. The cost of providing the education is less than what the student pays.
Answer: B
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If the CPI this year is 220 and was 200 in last year, the annual inflation rate between the two years is
A) 5 percent. B) 10 percent. C) 20 percent. D) 2 percent.
Based on Scenario 1 above critically evaluate the following statement. "Because of the productivity differential between the two men we can conclude that the young man has a comparative advantage in the production of everything over the older man
What will be an ideal response?
In the year 2012, Shinzo Abe became prime minister of Japan, promising bold policies to improve Japan's economy. What was the focus of his policies and how did they affect Japan's trade position?
What will be an ideal response?
The Hound Dog Bus Company contemplates expanding its New Mexico operations by offering service from Raton to Milk-of-Magnesia. The total cost of the trip would be $400, of which $150 is fixed cost, which it has already paid. The firm expects to earn $275 in revenue from the trip. The Hound Dog Bus Co should
a. offer this service because it will earn a positive economic profit b. not offer this service because the marginal revenue is less than the marginal cost c. offer this service because the revenue exceeds fixed cost d. not offer this service because the total cost exceeds the total revenue e. offer this service because the added revenue exceeds the added cost of this service