Since income distribution and poverty are intrinsically related, they cannot be approached separately
Indicate whether the statement is true or false
F
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The table above shows the marginal private benefit, marginal social benefit, and marginal cost of education at the College of Epsilon. What is the tuition that will make the number of students equal to the efficient number?
A) $400 B) $800 C) $2,800 D) $3,200
The law of diminishing marginal returns states
A) that at some point, adding more of a variable input to a given amount of a fixed input will cause the marginal product of the variable input to decline. B) that at some point, adding more of a fixed input to a given amount of variable inputs will cause the marginal product of the variable input to decline. C) that in the presence of a fixed factor, at some point average product of labor starts to fall as more and more variable inputs are added. D) average total costs of production initially fall and after some point starts to rise at a decreasing rate as output increases.
Government expenditures are a subcategory of government outlays
a. True b. False
An increase in the money supply will
A) increase the interest rate. B) decrease the interest rate. C) have no affect on the interest rate. D) decrease the equilibrium quantity of money in the economy.