Author Question: Private schools are able to exclude students from attending classes they offer unless students have ... (Read 331 times)

CORALGRILL2014 · **on:** Jun 29, 2018

Private schools are able to exclude students from attending classes they offer unless students have been accepted and paid tuition and fees. This suggests that education is

A) subject to the principle of rival consumption.
B) subject to the free-rider problem.
C) not subject to the exclusion principle.
D) a public good.

Question 2

Refer to the above figure. Suppose the government imposes a minimum wage rate of 20.00 per hour. This will likely result in

A) a surplus of labor.
B) a shortage of labor.
C) an equilibrium in the labor market.
D) an increase in the demand for labor.