Which of the following is the least accurate statement?
a. GNP grew very slowly during the colonial period.
b. The South's economic performance was very poor after the Civil War.
c. Wealth in the colonial US was very equal because there had not been enough time for people to acquire significantly different levels of wealth.
d. Wage inequality has increased since 1970.
c. Wealth in the colonial US was very equal because there had not been enough time for people to acquire significantly different levels of wealth.
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The table above shows the marginal private benefit, marginal social benefit, and marginal cost of education at the College of Epsilon. What is the tuition that will make the number of students equal to the efficient number?
A) $400 B) $800 C) $2,800 D) $3,200
Which situation below would represent a shortage in the oil market?
A. quantity demanded is 5.2 million; quantity supplied is 5.1 million. B. market price $75.00 per barrel; equilibrium price $81.00 per barrel. C. market price $81.00 per barrel; equilibrium price $75.00 per barrel. D. quantity supplied this year is 25% greater than quantity supplied last year.