The figure above shows the market for college education. Left to itself without any government intervention, a competitive market would create a deadweight loss equal to

A valid and useful theory of gold prices:

A) helps to predict the movements of gold prices over time. B) may be founded on simplifying assumptions. C) need not exactly predict every change in gold prices. D) all of the above E) none of the above

In recent years, real wages of the least educated workers

A) have increased faster than the real wages of college-educated workers. B) have increased, but by less than the real wages of college-educated workers. C) have decreased, but by less than the real wages of college-educated workers. D) have decreased, while the real wages of college-educated workers have increased. E) have decreased at about the same rate as the real wages of college-educated workers.