Leisure includes all of the following except

The idea that an action should be undertaken if and only if the benefits exceed the costs is known as the concept of

a. economic efficiency. b. public welfare maximization. c. marginal comparative advantage. d. monetary construction of values.

According to the analysis in your text, the school voucher program would

A. increase the quality of education, but not improve the welfare of low income families. B. decrease the quality of education. C. increase the quality of education. D. not affect education quality, but would make lower income families better off.