If a poor family has three children in public school and a rich family has two children in private school, the benefits principle would suggest that
a. the poor family should pay more in taxes to pay for public education than the rich family.
b. the rich family should pay more in taxes to pay for public education than the poor family.
c. the benefits of private school exceed those of public school.
d. public schools should be financed by property taxes.
a
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Which of the following is likely to cause a decrease in the wage rate and an increase in the employment level of a country?
A) A left shift in the demand curve for labor, without any change in the supply curve for labor B) A left shift in the supply curve for labor, without any change in the demand curve for labor C) A right shift in the supply curve for labor, without any change in the demand curve for labor D) A right shift in the demand curve for labor, without any change in the supply curve for labor
Explain why economics is considered a social science
What will be an ideal response?
The real rate of interest equals 5% and the expected rate of inflation equals 2%. The nominal rate of interest equals
A) 2%. B) 3%. C) 5%. D) 7%.
In the 1990s, business organizations were
A) flattened. B) turned inside out. C) formed into horizontal structures. D) all of these choices.