By subsidizing the provision of public education, the government
A) generates an increase in the quantity of educational services demanded.
B) pushes the per-unit price that consumers pay for educational services below the market clearing price.
C) pushes the per-unit price that producers of educational services receive above the market clearing price.
D) All of the above
D
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Which of the following is likely to happen if the government of a country lowers import tariffs?
A) The domestic producers will be safe from foreign competition. B) The revenue earned by the government will fall. C) The price of imported goods will rise in the domestic market. D) The volume of the country's imports will fall.
If two indifference curves were to intersect at a point, this would violate the assumption of
A) transitivity. B) completeness. C) Both A and B above. D) None of the above.