Suppose That Elementary Education Creates a Positive Externality

question 99

Multiple Choice

Suppose that elementary education creates a positive externality. If the government subsidizes education by an amount equal to the per-unit externality it creates, then

• A)the equilibrium quantity of education will equal the socially optimal quantity of education.
• B)the equilibrium quantity of education will be greater than the socially optimal quantity of education.
• C)the equilibrium quantity of education will be less than the socially optimal quantity of education.
• D)There is not enough information to answer the question.

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Definitions:

Late Antique

The non-naturalistic artistic style of the Late Roman Empire.

Christian Art

Art that is religious in nature and often inspired by Christian themes, iconography, and figures from the Bible.

Hieratic Sizing

A principle in art, particularly ancient Egyptian, where the size of figures indicates their relative importance, with larger sizes denoting greater significance.

Mildenhall Treasure

A significant hoard of Roman silver tableware from the 4th century, discovered in Suffolk, England in 1942.