The belief that education makes a person more productive and thereby raises his or her wage is referred to as the
a. signaling view of education.
b. natural-ability view of education.
c. unmeasured-variables view of education.
d. human-capital view of education.
d
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If the government liberalizes immigration policies, the demand for labor will ________, the real wage will ________, and the quantity of labor hired will ________
A) remain the same; decrease; increase B) increase; decrease; remain the same C) remain the same; decrease; decrease D) remain the same; increase; decrease
When there are no constitutional constraints on democracy, politicians will
A) find it advantageous to provide income transfers and other favors to interest groups in exchange for votes and political contributions, and this will eventually lead to budget deficits, high taxes, and economic stagnation. B) impose high taxes that will lead to budget surpluses, which will eventually undermine economic progress. C) be reluctant to run budget deficits during a recession and this failure will lead to economic instability and stagnation. D) be reluctant to impose regulations and eventually unbridled market competition will undermine economic progress.
Unemployment rates differ widely among various groups in the population.
Answer the following statement true (T) or false (F)
The largest government-run health care system in the world, with 1.4 million employees, is the National Health Service (NHS) in the United Kingdom. The NHS receives its funding primarily from
A) tariffs. B) the World Health Organization. C) income taxes. D) private businesses.