The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal private cost is

Income inequality in the United States has increased somewhat over the past 25 years. Two factors that appear to have contributed to this are

A) rapid technological change and expanding international trade. B) strong economic growth and low inflation. C) tax cuts on high-income individuals and large increases in prices of stocks. D) outsourcing of jobs by U.S. firms and cuts in taxes on capital gains.

The United States was unable to maintain its dominance in the production of televisions because:

A. automated techniques allowed production to be outsourced to countries with less-skilled workers. B. the raw materials necessary to build televisions became scarce in the United States. C. the product designs evolved too rapidly for engineers in the United States to keep up. D. the highly technical skills necessary to produce televisions are greater in other countries.