Which of the following is not a common rationale for government involvement in education?
a. Public education produces a positive inframarginal externality.
b. Public provisions of education makes students into better citizens.
c. Public financing of education is necessary on equity grounds.
d. all of the above
d
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Persistently expansionary monetary policy that stimulates aggregate demand and leads to inflation will
a. lead to higher rates of real output in the long run. b. fail to increase real output once decision makers fully anticipate the inflation. c. lead to lower nominal interest rates once decision makers fully anticipate the inflation. d. permanently reduce the rate of unemployment below its natural rate.
Which of the following is not a determinant of elasticity?
a. availability of substitutes b. share of the consumer's budget spent on the amount c. duration of the adjustment period d. the location of the product