In the signaling theory of education,
a. schooling itself does not lead to more productive workers.
b. chance plays more of a role than in the human-capital theory.
c. schooling enhances worker productivity.
d. compensating differentials do not matter.
a
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Explain why choosing which job to apply for constitutes a game, while choosing where to order pizza for dinner is more likely just a decision
What will be an ideal response?
Economics is primarily the study of
a. how to make money in the stock market. b. how to find lower cost methods of production. c. the choices we must make among alternatives because of scarcity. d. the proper form of industrial structure for the United States.
Suppose that the labor market for life guards is initially in equilibrium. Then the marginal productivity of life guards increases. What happens to the equilibrium wage and quantity of life guards?
a. Both the equilibrium wage and quantity increase. b. Both the equilibrium wage and quantity decrease. c. The equilibrium wage increases, and the equilibrium quantity decreases. d. The equilibrium wage decreases, and the equilibrium quantity increases.
If the marginal propensity to consume is 0.5, the marginal propensity to save is 0.5.
Answer the following statement true (T) or false (F)