Given their skills, a college graduate may be perceived as a good manager of time and the better fit for a managerial job than a high school graduate. This is an example of:
A. the learning effect of a college education.
B. the signaling effect of a college education.
C. the discriminatory effect of a college education.
D. All of these
Answer: B
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A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is
A) an intermediate good. B) part of net exports if the fish was caught beyond the U.S. border. C) an investment. D) an example of government expenditures on goods and services. E) a consumption expenditure.
With a natural monopoly, a potentially insurmountable barrier to entry can be the
A. low profit margins. B. decreasing average total costs. C. high fixed costs. D. decreasing marginal costs.
In 1996, the Personal Responsibility Act:
A. transferred responsibility for welfare programs from the state to the federal level. B. established the earned income tax credit (or EITC). C. increased the federal minimum wage. D. placed a five-year lifetime limit on welfare payments to any given recipient.
The definition of monopolistic competition differs from that of perfect competition with respect to _______________.
Fill in the blank(s) with the appropriate word(s).