How can it be that the U.S. spends more on education than many other nations, and achieves far worse results? What may be the underlying reason?


The reason that the U.S. education system fails to achieve results as good as those of many other countries who spend far less may be the built-in inequality in the U.S. funding of education. Education in the U.S. is mostly funded by local property tax revenues, which tend to vary widely, depending on the neighborhood where school children live. Wealthier communities are able to maintain quality education, programming and extracurricular activities, while poor communities struggle to meet basics. A recent study found that the 10% of the school districts with the most funding outspent the poorest 10% by a factor of 10 . The education received by the children attending those schools is certainly affected.

A different kind of system is used in Finland, Norway, Japan and Hong Kong. In these countries, education is federally funded and tuition-free at all levels. They spend far less on education, but their students are among the top scorers world-wide. When compared to American students, there are notably smaller differences between students of differing socioeconomic backgrounds. In short, a more egalitarian approach to education appears to have succeeded in reducing inequality.

Economics

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Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. If Jerry decides to specialize in building fences, what are the limits to his terms of trade?

A. Jerry will accept no less than 7 dishes for each fence. B. Jerry will accept no less than 2 dishes for each fence. C. Jerry will accept no less than 7 fences for each dishes. D. Jerry will accept no less than 2 fences for each dishes.

Economics

If a nation has a higher level of technology than another nation it can produce:

A. more outputs with the same level of physical capital. B. less with the same amount of physical capital. C. more with no use of human capital. D. the same output with the same level of inputs.

Economics

Explanation: E) Perfect competition occurs when there are many buyers and sellers of products that are virtually identical and any seller can easily enter and exit the market. When these conditions exist, no single supplier can influence the price.

A) to ensure that there are as many opportunities for perfect competition as possible B) to ensure that no single seller can drastically increase the price of a given product or service C) to ensure that no one industry has control of the entire national economy D) to ensure that local businesses are always the preferred provider of products consumers want E) to ensure that companies have equal access to natural resources like water and natural gas

Economics

(Last Word) The "after this, therefore because of this" fallacy states that

What will be an ideal response?

Economics