# Would a school voucher program increase the quality

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Chapter 11 / Exercise 55
Mathematical Excursions
Aufmann
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c.Would a school voucher program increase the quality of education in the US?d.Should policymakers try to further reduce inflation?e.What factors can lead to recessions?f.How does market power in the market for cable TV affect consumers?4.An economy produces 1,000,000 cars valued at \$20,000 each. Of these, 200,000 are sold tobusinesses, 700,000 are sold to consumers, and 50,000 are sold to the government, and 25,000 aresold abroad. No cars are imported into the country. Any cars left unsold at the end of the year areheld in inventory by the car manufacturers.a.Find GDP in terms of the market value of productionb.Find GDP in terms of the components of expenditurec.How would your answers to parts (a) and (b) change if 100,000 of the 700,000 cars boughtby households were produced abroad instead of domestically?5.______ (True/False/Uncertain; explain) “Full employment” occurs when every working agedindividual in the economy is employed.6.The Consumer Expenditure Survey finds that a typical consumer in the U.S. buys 50 litres of sodaand 80 small pizzas each year. In 2011 a litre of soda cost \$1 and a small pizza cost \$5. In 2016 aton of soda cost \$1.20 and a ton of pizza cost \$6.A)Using 2011 as the base year, what is the CPI in 2011?B)Using 2011 as the base year, what is the CPI in 2016?C)
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Chapter 11 / Exercise 55
Mathematical Excursions
Aufmann
Expert Verified