If education has positive externalities, _____
a. the resources will be efficiently allocated in providing education
b. the private costs of production will be lower than the social costs
c. the government can help to bring about a more efficient allocation through subsidies
d. the benefits of consumption accrue only to the consumers
e. the government can help to bring about a more efficient allocation by levying education cess
c
Economics
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In the above figure, the line represented by the "4" is the
A) average fixed cost. B) marginal revenue. C) average total cost. D) marginal cost.
Economics
The nominal tax rate is
A. Taxes paid divided by total economic income. B. Equal to the marginal tax rate. C. Taxes paid divided by taxable income. D. Lower than the effective tax rate.
Economics