Public education in the United States is
A) subsidized mainly by state and local governments.
B) funded by the federal government only.
C) paid for mostly by the parents of students.
D) paid for through the Social Security program.
Answer: A
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In Sewei's lawnmowing business, in order to produce each mowed lawn, Sewei must hire exactly one unit of capital (a lawnmower) and exactly one unit of labor. Describe the elasticity of substitution between labor and capital
What will be an ideal response?
Long-run equilibrium in the goods and services market requires that
a. aggregate supply equals aggregate demand and that decision makers correctly anticipate the level of prices. b. the unemployment rate is zero. c. prices are neither increasing nor decreasing. d. aggregate supply be larger than aggregate demand.