Public Schools in the United States Get Most of Their

question 4

Multiple Choice

Public schools in the United States get most of their operating funds from

• A)government production and subsidies.
• B)income taxes on corporate profits.
• C)local property taxes.
• D)tariffs collected on imported goods.

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Definitions:

Implicit Cost

The opportunity cost equal to what a firm must give up or forgo in order to use resources in its own operations, not directly paid in money.

Part-Time Employees

Part-time employees are workers who are employed for fewer hours than the standard full-time work schedule, often without the same benefits as full-time employees.

Utility Bill

A monthly fee paid for services such as electricity, water, and gas consumption.

Economic Costs

The total cost of choosing one action over another, including both explicit costs (direct payments) and implicit costs (opportunity costs).