It often appears as if there are "too few" workers at the Department of Motor Vehicles (DMV) to service all of its customers at a given point in time. Based on one of theories discussed in the textbook, this is probably because
A) the equilibrium "price" to be served by the DMV is lower than the "price" charged customers.
B) the equilibrium "price" to be served by the DMV is higher than the "price" charged customers.
C) the equilibrium "price" to be served by the DMV minus the "price" charged to customers is zero.
D) b and c
E) none of the above
B
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Why is knowledge considered a type of capital?
What will be an ideal response?
The socialization rationale for public education implies that private schools _____
a. are more segregated along class and perhaps racial lines b. are more homogenous c. are often organized around an exclusionary orientation d. all of the above
A model that is an oversimplification for one purpose will likely be an oversimplification for other purposes as well.
Answer the following statement true (T) or false (F)
Jaxon borrows $10,000 from a bank and withdraws $20,000 from his personal savings to open a tattoo parlor. The interest rate is 3 percent for both the bank loan and his personal savings. Jaxon's implicit costs are $900
a. True b. False Indicate whether the statement is true or false