Answered: Suppose that a mayor of a large city…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that a mayor of a large city believes strongly that education provides great benefits to the community and
urges the state government to provide the district with more money. An economist would say that this reflects the
Mayor's belief that:
A
since teachers are overpaid, the district needs more money to hire enough teachers for its classrooms.
B
there are positive external benefits associated with education.
C
there are nontrivial external costs associated with education.
D
public schools provide a higher quality education than private schools.

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