The study of economics is important because it enables us to

a-increase our consumption of consumer goods.

b- become better decision makers.

c-describe our standard of living.

d-determine what goods ought to be produced

What is the rationale for government provision of education? -not all incomes are equal, but everyone has the right to education regardless of wealth. -potential students consider only their personal benefits gained from education, but the rest of society benefits, too. -no education would be provided in the absence of government provision because everyone would consume it without paying. -the cost of providing education for the entire public is too large. -the government can provide education at a much lower cost than the private sector.

Free points + free ! if answered correctly which of these is not a good tip for passing? a. make sure you are on an area of road where it is legal and safe to pass. b. always drive at a safe speed at or below the speed limit. c. you may reduce your following distance below four seconds when passing. d. make sure there is a safe gap in traffic before you change lanes.

Which of these is the most likely way long-term economic growth takes place? a) increases in interest rates b) increases in overall price level c) increases in labor productivity growth d) increases in labor force participation rate