The return to schooling for society is higher than the return to schooling for the individual if
a. the concept of diminishing returns applies to education.
b. the concept of constant returns to scale applies to education.
c. human capital conveys positive externalities.
d. investment in human capital involves no opportunity costs.
c
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Consider the following five investments. If the nominal interest rate is five percent, which projects should be undertaken? (Note: The returns are for one period later.)
Investment Cost Returns A $100 $106 B 300 313 C 200 218 D 50 55 E 400 418
Samara's income is $30 a month and she spends all of it on music downloads and gasoline. The price of a music download is $1.50 and the price of a gallon of gasoline is $3
At Samara's best affordable point, her marginal rate of substitution is ________ per video tape. A) 0.5 of a download B) 1 download C) 1.5 downloads D) 2 downloads
If an economy's institutional production possibilities frontier (institutional PPF) shifts rightward, the economy's
A) natural unemployment rate rises. B) natural unemployment rate falls. C) Natural Real GDP declines. D) physical PPF shifts leftward. E) physical PPF shifts rightward.
The figure below shows the supply and demand curves for jeans in Smallville.
At a price of $60 per pair, there will be an excess ________ of ________ pairs of jeans per day.
A. supply; 16 B. supply; 24 C. demand; 8 D. demand; 16