While it can be hard to measure, when it comes to education, _______________ around the world.
a. the psychic cost is high
b. the level of suspicion is increasing
c. the social rate of return is positive
d. the purely private benefits outweigh the social benefits
c. the social rate of return is positive
The positive externalities to education typically include better health outcomes for the population, lower levels of crime, a cleaner environment, and a more stable, democratic government. Education clearly benefits the person who receives it, but societies where most people have a good level of education receive a positive social rate of return.
You might also like to view...
Explain the permanent-income hypothesis and the life-cycle hypothesis. How are these hypotheses similar?
What will be an ideal response?
In which model does there exist a tradeoff between higher inflation and lower unemployment?
a. monetarist b. real business cycle. c. new classical d. a and b. e. a tradeoff exists in all of the above.
What is one way to eliminate the Tragedy of the Commons?
a) increase access to the commons b) provide more public land for recreation c) increase law enforcement in public areas d) limit access to the commons
If ________, a firm would shut down in the short run and exit the industry in the long run.
A. TR > TVC but TR < TC B. TR = TC C. TR < TVC D. TR > TFC