Over the Past 40 Years, There Has Been an Increase

Multiple Choice

Over the past 40 years, there has been an increase in spending on public education without a significant increase in student performance. One explanation given by economists on why student performance has not improved is that

A) not enough funds have been spent on public education.
B) schools are providing high-priced services that are not valued by parents.
C) the quantity of educational services has not increased beyond the pre-subsidy equilibrium.
D) too much competition for educational services.