In the signaling theory of education,
a. discrimination does not affect wage differentials.
b. schooling makes workers more productive in the long-run.
c. schooling makes workers more productive in the short-run.
d. the worker signals to the employer that he is a valuable employee because he was willing to spend time to get an education.
d
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Which of the following does not describe governmental policy actions that are helpful in supporting growth in an economy? Governmental policies that
A) provide secure rights to private property. B) establish an independent court system that enforces contracts. C) facilitate the development of an efficient financial system. D) avoid playing any role in developing communication systems.
Changing the units of measurement, e.g. measuring testscores in 100s, will do all of the following EXCEPT for changing the
A) residuals B) numerical value of the slope estimate C) interpretation of the effect that a change in X has on the change in Y D) numerical value of the intercept
The federal budget is balanced and the economy is on the upward-sloping portion of the Laffer curve. Then, tax rates are cut and government purchases are increased. Is a budget deficit inevitable?
A) No, because a cut in tax rates (on the upward-sloping portion of the Laffer curve) increases tax revenues, and if the increase in tax revenues equals the increase in government purchases there is no deficit. B) Yes, because a cut in tax rates (on the upward-sloping portion of the Laffer curve) lowers tax revenues. C) No, because a cut in tax rates (on the upward-sloping portion of the Laffer curve) decreases tax revenues, and if the decrease in tax revenues is less than the increase in government purchases there is no deficit. D) Yes, because a cut in tax rates (on the upward-sloping portion of the Laffer curve) raises interest rates, and higher interest rates discourage investment spending.
In 2011, about ____ percent of employed wage and salary workers belonged to unions
A. 8.4 B. 5.5 C. 14.8 D. 11.8