The use of vouchers for education
A) decreases the demand for education and increases the equilibrium quantity.
B) increases the demand for education and increases the equilibrium quantity.
C) increases the deadweight loss for those who can't afford schooling.
D) decreases the quantity provided to the efficient level.
E) decreases the demand for education and decreases the equilibrium quantity.
B
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According to the table, the Big Mac would cost the same in Switzerland and the United States at an exchange rate of ________ Swiss franc for every one U.S. dollar
A) 0.86 B) 1.27 C) 1.36 D) 2.72
Two identical firms that share a market and produce a homogenous good will find the Bertrand Oligopoly LEAST attractive because
A) Cartels generate the highest joint profit. B) a Cournot Oligopoly will generate more profit than a Bertrand Oligopoly. C) they want to avoid a price war that leads to profit erosion and P = MC. D) All of the above.
Many economists believe that the collapse of world trade and the depression in the 1930s were linked by a decrease in real income caused by producing on the basis of comparative advantage
a. True b. False Indicate whether the statement is true or false
If an externality is present in a market, economic efficiency may be enhanced by
a. government intervention. b. a decrease in foreign competition. c. fewer market participants. d. weaker property rights.