It is clear that government provision of education is not necessary _____
a. because of the existence of private schools
b. from the size of positive externalities
c. because of the lack of asymmetrical information between parents and teachers
d. because education externalities are negatively inframarginal
a
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An increase in consumers' incomes will have what effect on the equilibrium in the restaurant meals market?
a. Price will increase, and quantity will increase. b. Price will decrease, and quantity will increase. c. Price will increase, and quantity will decrease. d. Price will decrease, and quantity will decrease. e. Price will increase, and quantity will stay the same.
The moral hazard that can result from debt financing is mainly due to the:
A. borrower wanting to refinance the loan. B. economy turning sour and the borrower defaulting. C. borrower taking greater risk in hopes of obtaining a larger return. D. borrower not working as hard once he or she obtains the loan.