Before-tax incomes are a better measure of income as compared to after-tax incomes

If education has positive externalities, _____

a. the resources will be efficiently allocated in providing education b. the private costs of production will be lower than the social costs c. the government can help to bring about a more efficient allocation through subsidies d. the benefits of consumption accrue only to the consumers e. the government can help to bring about a more efficient allocation by levying education cess

Deflation is an overall:

A. rise in prices in the economy. B. decline in prices in the economy. C. rise in prices in the economy, excluding those with historically volatile price changes. D. decline in prices in the economy, excluding those with historically volatile price changes.