Q 1: A family\'s demand for education for a child reflects the family\'s Select

Question

Q 1: A family's demand for education for a child reflects the family's

Select one:

a. income.

b. preferences for education.

c. MPB received from the education.

d. opportunity cost of tuition.

e. all of the choices.

Q 2: Which of the following could reduce poverty?

Select one:

a. Eliminating discrimination in educational policies

b. Increasing the productivity of poor workers

c. A negative income tax structure

d. Education and training programs for the poor

e. All of the choices

Question 3

When the cost of an action falls on someone other than the person (or persons) responsible for the action, which of the following exists?

Select one:

a. Negative externality

b. External cost of production

c. Positive externality

d. External Economies in production

e. Externality in consumption

Question 4

China can be best described as a

Select one:

a. transitional economy.

b. competitive economy.

c. market economy.

d. monopoly economy.

e. mixed economy.

Question 5

The demand for labor is a derived demand because it is dependent on

Select one:

a. the demand for the product being produced.

b. the supply of the product being produced.

c. the marginal productivity of the capital used to produce the product.

d. the wages paid to employees.

e. none of the choices.

Explanation / Answer

ANswer 1)

Decision of Family over the education of children dervies out of Benefit dervied from education, preferences of family for education, other chances forgone when employed to education hence all the given options are correct

Option E is correct response

Ans 2)

Again Option E is correct response here because negative tax, improved living standards of poor, education for poor will create the chances to minimise the poverty

Ans 3)

Negative Externality is correct answer here as Someone s action lead to face their repurcussions then it is externality in negative sense if benefits are replaced by costs then it is positive externality

Option A is correct response

Ans 5)

Option D is correct response here

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