The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, the amount of enrollment is
A) efficient.
B) inefficient because marginal social cost exceeds marginal social benefit.
C) inefficient because marginal social benefit exceeds marginal social cost.
D) inefficient because the quantity of education demanded exceeds the quantity of education supplied.
C
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In the basic 45-degree line model, what is the effect of a decrease in the price level?
a. The expenditure line will shift downward. b. The expenditure line will shift upward. c. There will be movement to the left on the expenditure line. d. There will be movement to the right on the expenditure line.
According to proponents of an environmentally-adjusted measure of a nation’s macroeconomic performance
a. GDP fails to properly capture the effects of environmental pollution b. GDP appropriately accounts for natural resource depletion c. the international community does not support environmental accounting d. the guidelines outlined in the SEEA of 2003 are meaningless
Which of the following increases in labor demand is due to a change in the price of a related resource?
A. A decrease in the price of wood decreases the cost of furniture, thus increasing the demand for furniture workers. B. Snowboarding increases in popularity, thus increasing the demand for the workers who make snowboards. C. A technological change increases output per worker in the computer industry, thus increasing the demand for computer workers. D. Software sales rise, thus increasing the demand for software developers.
Government agencies to which the national health care program assigns the task of assisting individuals, families, and small businesses in identifying health insurance policies to purchase are known as
A) health care exchanges. B) markets for health care. C) health insurance regulations. D) health insurance mandates.