Suppose society wants to increase the number of teachers in society but doesn't want to pay teachers any more in salary and benefits. This could only occur by
A) making it more expensive to become a teacher, perhaps by raising college tuition rates.
B) making it less expensive to become a teacher, perhaps by offering subsidies to college tuition.
C) making computers more powerful.
D) increasing the income of student parents.
B
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If, in the game in Scenario 13.14, R moves first, it will select
A) Q = 50. B) Q = 100. C) Q = 150. D) a mixed strategy over the three choices that includes some positive likelihood for each Q. E) a mixed strategy over the choices Q = 50 and Q = 100.
Which of the following statements is true?
a. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. b. In capitalism income is distributed on the basis of need. c. Adam Smith was the father of socialism. d. Most real-world economies are mixed economic systems. e. The "invisible hand" refers to government economic control.