Developing countries have not benefited as much as expected from their higher education programs because of

(a) lack of program focus on the needs of the country.
(b) increasing returns to scale in each individual's education.
(c) graduates get jobs in the private sector.
(d) all of the above.


A

Economics

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Explain the relationship between price elasticity of demand and total revenue

What will be an ideal response?

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Constantine purchased 100 shares of IBM stock several years ago for $150 per share. The price of these shares has fallen to $55 per share. Constantine's investment strategy is "buy low, sell high"

Therefore, he will not sell his IBM stock until the price rises above $150 per share. If he sells at a price lower than $150 per share he will have "bought high and sold low." Constantine's decision: A) is correct and shows a solid command of the nature of opportunity cost. B) is incorrect because the original price paid for the shares is a sunk cost and should have no bearing on whether the shares should be held or sold. C) is incorrect because when the price of a stock falls, the law of demand states that he should buy more shares. D) is incorrect because it treats the price of the shares as an explicit cost.

Economics

A unique resource can serve as

A) an economic profit B) a sunk cost C) an entry barrier D) none of these choices

Economics

One of the serious drawbacks of the deposit insurance system in the United States is that:

A. bank failures continue to occur regularly. B. the system took away the Federal Reserve's ability to conduct open-market operations. C. if insured intermediaries make many bad loans, the taxpayers may be responsible for covering the losses. D. the system took away the Federal Reserve's ability to change reserve requirements.

Economics