A good that has social costs that exceed private costs has a quantity that is
A) too high.
B) too low.
C) just right.
D) the best society can do.
Answer: A
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A country's balance of payments accounts records its
A) international exports and imports and nothing else. B) international trading, borrowing, and lending. C) tax receipts and expenditures. D) tariffs and nontariff revenue and government purchases. E) tariff receipts and what it pays in tariffs to other nations.
From 2015 to 2016, the overall price level rose from 200 to 220. Over the same period, tuition rates at the local community college rose from $100 to $115 per credit hour. What can be concluded from the rise in tuition relative to overall inflation?
a. Tuition rates increased at the same rate as inflation. b. Tuition rates increased at a slower rate than inflation. c. Tuition rates increased at a faster rate than inflation. d. Tuition rates and inflation cannot be compared with the numbers given.