Educated people may generate ideas that increase production. These ideas
a. produce a return to society from education that is greater than the return to the individual.
b. could justify government subsides for education.
c. are external benefits of education.
d. All of the above are correct.
d
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The market structure where there is a single supplier of a good or service for which there is no close substitute is
A) a price searcher. B) a monopoly. C) a tariff. D) the most economically efficient market structure.
Individuals who face greater risks
a. are more likely to purchase insurance b. are less likely to purchase insurance c. are neither more nor less likely to purchase insurance d. are risk neutral
In the long run, policy that changes aggregate demand changes
a. both unemployment and the price level. b. neither unemployment nor the price level. c. only unemployment. d. only the price level.
People will be more likely to vote if they believe that their vote will determine the outcome of the election
Indicate whether the statement is true or false