In the United States, the average level of educational attainment is approximately a
a. primary education.
b. secondary education.
c. higher education.
d. graduate-level education.
b
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Compare and contrast a price ceiling and a price floor
What will be an ideal response?
Which of the following is an example of a nonexcludable product?
A) Internet service for your home computer B) public transportation C) college education D) a public library
When the exchange rate, E, and the foreign price level, P*, is fixed, domestic inflation depends primarily on
A) amount of aggregate demand. B) home price level set by IMF. C) current account balance. D) government tax policy. E) foreign interest rates.
Two identical firms that share a market and produce a homogeneous good will find which of the following market outcomes LEAST desirable?
A) Bertrand Oligopoly B) Cournot Oligopoly C) Cartel D) All are equally preferable.