"If education is provided free of charge to (some or all) students, someone else has to foot the bill. In most cases, this would be the government and thus, by implication, the taxpayer. In the 2018/2019 budget of the South African government, the additional allocation to subsidise higher education and training fully for poor and working-class students amounted to R12.4 billion. In 2019 and 2020, it is estimated it will amount to R20.3 billion and R24.3 billion, respectively." 1.24 Assuming that education and healthcare are the only expenditure items on the governments budget (and are represented by a production possibilities curve), the increase of the above above subsidy represents... a) A movement along the production possibilities frontier. b) A movement towards the production possibilities frontier c) An outward movement of the production possibilities frontier d) An inward movement of the production possibilities frontier

"If education is provided free of charge to (some or all) students, someone else has to foot the bill. In most cases, this would be the government and thus, by implication, the taxpayer. In the 2018/2019 budget of the South African government, the additional allocation to subsidise higher education and training fully for poor and working-class students amounted to R12.4 billion. In 2019 and 2020, it is estimated it will amount to R20.3 billion and R24.3 billion, respectively." 1.24 Assuming that education and healthcare are the only expenditure items on the governments budget (and are represented by a production possibilities curve), the increase of the above above subsidy represents... a) A movement along the production possibilities frontier. b) A movement towards the production possibilities frontier c) An outward movement of the production possibilities frontier d) An inward movement of the production possibilities frontier

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.5P

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