Which of the following is true?
a. Real federal spending per person was approximately 50 times higher in 1900 than 1800.
b. Real federal spending per person was approximately 80 times higher in 2012 than 1916.
c. Real federal spending per person grew slowly under the Reagan Administration during the 1980s, but it increased rapidly under the Clinton administration in the 1990s.
d. In recent years, government expenditures at the state and local levels have been greater than government spending at the federal level.
B
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The figure above shows the market for college education in the United States
If the government intervenes in the market and provides a subsidy to colleges to enroll the efficient number of students, the amount of the subsidy equals ________ per student. A) $5,000 B) $16,000 C) $13,000 D) $11,000 E) $7,000
If AVC=$15 and AFC=$10, then ATC=
a. $10 b. $5 c. $15 d. $25