3. Which of the following is not a valid facet, parable or current event in the study of public economics today {think of front pages ofclassroorn 1videos that broach issues}? A. cigarettes are a product famous, or infamous, for extemalities in economic society B. a short stretch of highway in a big city is planned to be rebuilt due to global warming C. U.S. treasury bonds have signicantly higher interest rates today compared to a year ago D. the aging ofthe population will result in a large increase in people with diminished mental capacity F.. a famous and omnipresent economics textbook from circa 19% written by the leading economist of the time predicted that the Soviet Union would outstrip the US. in GDP within a couple of decades 9. In Work-Leisure Choice theory A. the symbol L stands for Labor Hours and it is shown on the x-axis B. a tradeoff between wage and income is plotted C. an eduilihn'urn will be attained at a point where the MRS of Leisure y. Income will equal the wage D. the quantity Income is plotted on the y-aitis and it is determined by a wage rate minus a tax rate E. a person earns w per day