Which of the following statements is not correct?
a. Both the human capital theory and the signaling theory of education could explain why college graduates earn more than high school graduates.
b. The signaling theory of education suggests that the ability to complete a college degree is correlated with the ability to perform well in the labor market.
c. If the human capital theory of education is correct, a government policy that pays for additional schooling for all workers would not increase wages.
d. If the signaling theory of education is correct, a government policy that pays for additional schooling for all workers would not increase wages.
c
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Tax increases on business income decrease aggregate demand by decreasing
A) business investment spending. B) government spending. C) consumption spending. D) wage rates.
A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because
a. it would not be maximizing output. b. it would not be maximizing the productivity of labor. c. it would not be minimizing costs. d. it would not be maximizing profits.
The figure above shows a local lawn cutting service's demand for labor curve when the price of cutting an acre of lawn is $50 per acre
If the market wage is $300 per day, the firm will NOT hire a fourth worker because the fourth worker would create A) an economic loss and the firm would shut down. B) additional revenue that exceeds the worker's wage. C) additional revenue that exceeds the worker's value of marginal product. D) additional revenue that falls short of the worker's wage.
The three oil shocks the U.S. experienced in 1973-1974, 1979-1980 and 2007-2008 had a consistent result ________
A) a decline in the MPK B) a decline in the real rental price of capital C) a decline in stock prices D) all of the above E) none of the above