"Education in elementary and high schools has external benefits because families who have a lot of children do not pay any more than families without children." Is this statement correct or incorrect? Explain your answer
What will be an ideal response?
The statement is incorrect. Education has external benefits because educated people create benefits for everyone else. Who pays for the education is not an external benefit.
Economics
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In the market for bicycles, explain what happens to the supply and demand curves when there is an increase in the price of steel used to make bikes
What will be an ideal response?
Economics
A Fed purchase of gold, SDRs, a deposit denominated in a foreign currency or any other asset is just an open market ________ of these assets, ________ the monetary base
A) purchase; raising B) sale; raising C) purchase; lowering D) sale; lowering
Economics