Suppose that a mayor of a large city believes strongly that education provides great benefits to the community and urges the state government to provide the district with more money. An economist would say that this reflects the Mayor's belief that:
a. since teachers are overpaid, the district needs more money to hire enough teachers for its classrooms.
b. there are positive external benefits associated with education.
c. there are nontrivial external costs associated with education.
d. public schools provide a higher quality education than private schools.
Question 2
Rational expectations theory would imply that the graphical relationship between unemployment and inflation indicated by the Phillips curve is ____ in the short-run.
a. vertical
b. positively sloped
c. negatively sloped
d. horizontal
Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation.
Glioma. (a) Illustration of a large glioma (colored area) within the left cerebral hemisphere in a s
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Pierolapithecus catalunicus may be an ancestor of great apes and humans. Its postcranial skeleton sh
B. Georges de la Tour The Education of the Virgin
Suppose a country imports televisions. The country's supply and demand curves are shown in ...