MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 4.3, Problem 1YTE
To determine
To explain whether education is a public good.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Is education a public good? Does education have external benefits? If so, what are some of those public benefits? In your opinion are the external benefits large or small? Why?
What should government do to promote the efficient provision of products that have external benefits? If you think that government should put more resources into education, what might be some of the opportunity costs of that decision? How would an economist determine the right amount of government support for education?
What is the difference between the PRIVATE COST and the SOCIAL COST of education?
Explain about the PRIVATE COST of EDUCATION.
Chapter 4 Solutions
MACROECONOMICS FOR TODAY
Ch. 4.2 - Prob. 1YTECh. 4.2 - Prob. 2YTECh. 4.2 - Prob. 3YTECh. 4.2 - Prob. 4YTECh. 4.3 - Prob. 1YTECh. 4.3 - Prob. 2YTECh. 4 - Prob. 1SQPCh. 4 - Prob. 2SQPCh. 4 - Prob. 3SQPCh. 4 - Prob. 4SQP
Ch. 4 - Prob. 5SQPCh. 4 - Prob. 6SQPCh. 4 - Prob. 7SQPCh. 4 - Prob. 8SQPCh. 4 - Prob. 9SQPCh. 4 - Prob. 10SQPCh. 4 - Prob. 1SQCh. 4 - Prob. 2SQCh. 4 - Prob. 3SQCh. 4 - Prob. 4SQCh. 4 - Prob. 5SQCh. 4 - Prob. 6SQCh. 4 - Prob. 7SQCh. 4 - Prob. 8SQCh. 4 - Prob. 9SQCh. 4 - Prob. 10SQCh. 4 - Prob. 11SQCh. 4 - Prob. 12SQCh. 4 - Prob. 13SQCh. 4 - Prob. 14SQCh. 4 - Prob. 15SQCh. 4 - Prob. 16SQCh. 4 - Prob. 17SQCh. 4 - Prob. 18SQCh. 4 - Prob. 19SQCh. 4 - Prob. 20SQ
Knowledge Booster
Similar questions
- Please explain about the Private Benefit and Private Cost of education based on the photo given.arrow_forwardIllustrate graph (s) that show about the Private Cost in education with explanation.arrow_forwardMr. Saeed Ahmed loves watching sports channel on his local public TV station, but he never sends any money to support the station during its fund-raising drives. What name do economists have for people like Mr. Saeed Ahmed? b. How can the government solve the problem caused by people like Mr. Saeed Ahmed? c. Can you think of ways the private market can solve this problem? How does the existence of cable TV alter the situation?arrow_forward
- Explain the graph that I have provided about the PRIVATE COST and SOCIAL COST of EDUCATION.arrow_forwardThe south African government develops targets that pertain to healthcare and education. Which of the following statements explains why government provides these two goods? A. The benefit to society of healthcare and education is extremely low. B. The benefits that society receives from health care and education exceed those that accrue to an individual user. C . The government spends money on health care and education because they are public goods D. Health care and education only produce negative externalities.arrow_forwardWhat is the 'private cost' of education?arrow_forward
- In general, what are some of the tactics the government uses to correct market failure? List 3 and provide a brief explanation of the opportunity costs involved in correcting these failures.arrow_forwardWhat challenges and opportunities would arise from higher and lower degrees of government intervention?arrow_forwardExplain why economists might say that the market for higher education demonstrates externalities and market failure.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning