Which of the proposals for education reform is likely to be supported by an economist concerned with efficiency?
A. Give families “education stamps” to be spent at the school of their choice.
B. Assign children to particular schools based on where they live.
C. Give all schoolchildren the same number of years of education.
D. Abolish private (i.e., fee-charging) schools.
Answer: A
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Suppose we have the following information about a plumber: wages $30,000, repair sales $200,000, taxes $5,000, loan interest $15,000, plumbing materials $20,000. What is the contribution to GDP of this plumber using the product approach?
A) $200,000. B) $180,000. C) $50,000. D) $30,000.
Which of the following is not included in Nation A's financialaccount?
a. Nation A's interest earnings from foreign operations. b. Changes in foreigners' bank accounts in Nation A. c. Foreign purchases of Nation A's Treasury bills. d. All the above are included.