The above figure shows the marginal private benefit and marginal social cost of a college education. If students receive a $10,000 voucher
A) no students will go to college.
B) less than 10 million students will go to college.
C) 10 million students will go to college.
D) more than 10 million students will go to college.
D
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Which of the following is typically not counted in GDP?
A) any nonmarket good and services B) income generated from apartment rentals C) illegal drug sales D) all of the above E) none of the above
From a point inside the production possibility frontier, a. more of one good can be produced only by sacrificing some output of another good
b. it is possible to increase production of both goods. c. it is impossible to increase production of either good with current resources and technology. d. increased output of both goods can only occur if the production possibility curve shifts outward.