Which of the following would be classified as a personal consumption expenditure?
a. the expenditure of time you gave in volunteering to raise money for a cancer fund
b. your purchase of a newly constructed house
c. your purchase of a preowned house
d. your purchase of one share of Microsoft stock
e. your purchase of your economics course
E
Economics
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A college education can be a signal because
A) a college education is expensive. B) those who graduate college have successful parents, and are therefore also likely to be successful. C) highly capable people are more likely to finish college than those with low capabilities. D) college teaches useful skills and gives valuable training.
Economics
Refer to the above figure. Line C in Panel B does NOT represent
A) the equilibrium price. B) average revenue. C) total revenue. D) marginal revenue.
Economics