What is the glue that holds modern economics together?
A. The invisible hand theorem
B. The supply and demand model
C. Modeling
D. The economic decision rule
Answer: C
Economics
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The table above shows the marginal costs and marginal benefits of college education. With public provision of the efficient amount of college education, the cost paid by the taxpayers is
A) zero. B) $8,000 per student. C) $4,000 per student. D) $12,000 per student.
Economics
Information gathering for a moral hazard problem happens
a. Before the agent is hired b. After the agent is hired c. After the agent is fired d. None of the above
Economics