What are the alternative views to the human capital theory with respect to the role of education?
One alternative dissenting view sees education as a sorting mechanism. People differ in ability both before and after schooling, but schooling sorts persons according to ability. Traits which lead to success in school often lead to success in work. Employers know this and seek people with more schooling for more complex jobs.
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Industrialization in advanced economies suggests that rising productivity is responsible for
(a) a drop in the number of laborers employed in the primary sector. (b) a smaller percentage of the total labor force working in the secondary sector. (c) a significant rise in the number of people working in the tertiary sector. (d) all of the above.
In the Monetarist model,
a. monetary policy and not fiscal policy is the prime factor in aggregate demand movements. b. money demand is more volatile than in the Keynesian model. c. expectations are correct on average. d. aggregate supply is not the primary source of business cycles. e. both a and b.
An example of stimulus spending by the government might be:
A. increase in government purchases of new cars. B. the monthly payments a government agency makes to its employees. C. a cut in the government budget aimed at spurring private consumption. D. the FED engaging in open market sales of securities.
The slope of a straight line
A. is constant. B. is not constant. C. must first increase then decrease. D. is always positive.