The government provides public education because
A) public education is a public good.
B) public education is non-rival and nonexclusive.
C) private education is rival and exclusive.
D) public education combats the negative externalities of private education.
E) public education provides positive externalities.
E
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The evidence suggests that in rich countries, a depreciation
A) immediately improves the trade balance. B) eventually improves the trade balance. C) first improves, but then worsens the trade balance. D) has no effect on the trade balance. E) none of the above
There are multiple models of pricing behavior in oligopolistic markets because
a. it is difficult to predict how rival firms will react to any pricing decision b. the demand curve slopes upward for these firms c. firms could earn profit in the long run unlike other markets d. price has a direct impact on profit for a firm in oligopoly e. the products are not identical in terms of quality, image, location