If the signaling theory of education is correct,
a. workers with more years of formal schooling will earn less than workers with fewer years of formal schooling.
b. additional years of formal schooling do not increase a worker's productivity.
c. workers with more years of formal schooling are less likely to be affected by ability, effort, and chance.
d. men are more likely to earn more than women because men are more likely to have graduated from college.
b
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Which of the following statements about public education is TRUE?
A) Over the last 40 years, there has been an increase in spending for public education, while there has not been a significant increase in performance. B) Over the last 40 years, there has been a decrease in public spending for public education, while there has not been a significant increase in performance. C) Most of the increases in public spending on public education have gone into programs that have increased student learning. D) Over the last 40 years there has been no decline in any of the measures of student performance in public education.
According to Joseph Schumpeter, many Midwestern railroads:
a. were built too late and thus faced heavy competition from trucks. b. were built ahead of demand. c. were unnecessary because they followed routes already adequately served by other means of transportation. d. would have been built more quickly in the absence of government aid.
Other things being equal, the effect of a decrease in the price of Coca-Cola would cause which of the following?
a. A rightward shift in the demand curve for Coca-Cola. b. A downward movement along the demand curve for Coca-Cola. c. A leftward shift in the demand curve for Coca-Cola. d. An upward movement along the demand curve for Coca-Cola.
Why is voluntary exchange an important source of economic prosperity?
A) All of the above are correct. B) It makes it possible to produce a larger output as a result of gains from division of labor and specialization. C) It makes it possible to produce a larger output as a result of lower per unit costs that often accompany large-scale production. D) It moves goods from people who value them less to people who value them more.