The opportunity cost doctrine suggests that which of the following are not costs of government educational programs?
a. The wages of teachers
b. The foregone earnings of participants.
c. Stipends paid to participants.
d. Materials used by students.
c
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The ________ measures the change in the demand of a good due to a percentage change in the consumer's income
A) substitution effect of a price change B) income effect of a price change C) cross-price elasticity of demand D) income elasticity of demand
When it comes to active policy making most economists agree that
A) active policy making should be used over passive policy making. B) it is unlikely that active policy making will have any long term effects on the economy. C) it is likely that active policy making will have long term effects on the economy. D) it will lead to long term shocks in the system.
Commercial banks can borrow reserves directly from the Fed at the
a. prime interest rate. b. federal funds rate. c. discount rate. d. real interest rate.
An advantage of a corporation is that
a. owners have limited liability for debt. b. the business is subject to little government regulation. c. owners pay fewer taxes than owners of other forms of business. d. owners have direct and immediate control over daily management of the business.