Question 1

Increased spending on K-12 education is certain to be cost-effectivE.

Accepted Answer

A) True 
 B)False

Question 2

Increased school funding increases student achievement.

Accepted Answer

A) True 
 B)False

Question 3

The Following Questions Refer to the graph below.  
-For which level of education is the family's MPB > MPC?

Accepted Answer

A) 1 year 
B) Between 0 and E1 years 
C) Between E1 and E* years 
D) Exactly E1 years 
E) Exactly E* years 
A) 1 year 
B) Between 0 and E1 years 
C) Between E1 and E* years 
D) Exactly E1 years 
E) Exactly E* years

Question 4

Private schools must pay some types of costs that public schools do not.

Accepted Answer

A) True 
 B)False

Question 5

The Following Questions Refer to the graph below.  
-The negative slope of the demand curve shows that

Accepted Answer

A) The marginal cost of education increases as more is purchased 
B) The marginal benefit of education increases as more is purchased 
C) The marginal benefit of each additional year of education decreases 
D) There are positive spillover benefits of education 
E) Tuition can be raised above T1 dollars 
A) The marginal cost of education increases as more is purchased 
B) The marginal benefit of education increases as more is purchased 
C) The marginal benefit of each additional year of education decreases 
D) There are positive spillover benefits of education 
E) Tuition can be raised above T1 dollars

Question 6

A purely private K-12 education system would increase existing segregation.

Accepted Answer

A) True 
 B)False

Question 7

Where did U.S.eighth grade students rank internationally in terms of average math scores in 2007?

Accepted Answer

A) At the top 
B) Second 
C) Near the middle 
D) Next to the bottom 
E) At the bottom 
A) At the top 
B) Second 
C) Near the middle 
D) Next to the bottom 
E) At the bottom

Question 8

Which of the following will decrease the equilibrium quantity of education in a market?

Accepted Answer

A) An increase in the demand for education 
B) A decrease in the demand for education 
C) A decrease in production costs 
D) An increase in the supply of education 
E) None of the above 
A) An increase in the demand for education 
B) A decrease in the demand for education 
C) A decrease in production costs 
D) An increase in the supply of education 
E) None of the above

Question 9

Targeting increased funding to programs for disadvantaged children is the most cost-effectivE.

Accepted Answer

A) True 
 B)False

Question 10

Smaller class size is always cost-effectivE.

Accepted Answer

A) True 
 B)False

Question 11

Public schools must pay for which of the following expenses that private schools do not?

Accepted Answer

A) Transportation 
B) Food 
C) Special education 
D) All of the above 
E) None of the above 
A) Transportation 
B) Food 
C) Special education 
D) All of the above 
E) None of the above

Question 12

Which of the following is an argument against voucher programs?

Accepted Answer

A) Cream skimming 
B) Reduced social segregation 
C) Decreased efficiency 
D) Increased special education 
E) All of the above 
A) Cream skimming 
B) Reduced social segregation 
C) Decreased efficiency 
D) Increased special education 
E) All of the above

Question 13

Students learn about health and nutrition in school.This provides a

Accepted Answer

A) Positive externality in production 
B) Positive externality in consumption 
C) Negative externality in production 
D) Negative externality in consumption 
E) Cost to society 
A) Positive externality in production 
B) Positive externality in consumption 
C) Negative externality in production 
D) Negative externality in consumption 
E) Cost to society

Question 14

Decreasing average class size without changing teacher pay leads to

Accepted Answer

A) Lower quality teachers 
B) A surplus of teachers 
C) Lower costs per pupil 
D) Increased segregation 
E) All of the above 
A) Lower quality teachers 
B) A surplus of teachers 
C) Lower costs per pupil 
D) Increased segregation 
E) All of the above

Question 15

Without public schools,there would be no K-12 education.

Accepted Answer

A) True 
 B)False

Question 16

The Following Questions Refer to the graph below.  
-A tuition subsidy equal to T3 would result in which of the following?

Accepted Answer

A) The socially optimal quantity of education 
B) Greater than the socially optimal quantity of education 
C) Less than the socially optimal quantity of education 
D) More public education 
E) A budget surplus 
A) The socially optimal quantity of education 
B) Greater than the socially optimal quantity of education 
C) Less than the socially optimal quantity of education 
D) More public education 
E) A budget surplus

Question 17

What is the relationship between student achievement and teacher pay?

Accepted Answer

A) Positive 
B) Negative 
C) Mixed 
D) Unrelated 
E) Inverse 
A) Positive 
B) Negative 
C) Mixed 
D) Unrelated 
E) Inverse

Question 18

The Following Questions Refer to the graph below.  
-What assumption is shown by the fact that MPC = MSC on the graph?

Accepted Answer

A) This graph is for public education 
B) There are no positive externalities associated with education 
C) Education has positive spillover benefits for society 
D) The market will produce the socially optimal quantity of education 
E) This graph illustrates a private market for education 
A) This graph is for public education 
B) There are no positive externalities associated with education 
C) Education has positive spillover benefits for society 
D) The market will produce the socially optimal quantity of education 
E) This graph illustrates a private market for education

Question 19

Without market provision of education,there is no mechanism for quality control.

Accepted Answer

A) True 
 B)False

Question 20

Approximately what percent of its GDP does the United States spend on education?

Accepted Answer

A) 2.0 
B) 3.0 
C) 3.9 
D) 4.2 
E) 5.3 
A) 2.0 
B) 3.0 
C) 3.9 
D) 4.2 
E) 5.3

Increased spending on K-12 education is certain to be cost-effectivE.

Increased school funding increases student achievement.

The Following Questions Refer to the graph below. -For which level of education is the family's MPB > MPC?

Private schools must pay some types of costs that public schools do not.

The Following Questions Refer to the graph below. -The negative slope of the demand curve shows that

A purely private K-12 education system would increase existing segregation.

Where did U.S.eighth grade students rank internationally in terms of average math scores in 2007?

Which of the following will decrease the equilibrium quantity of education in a market?

Targeting increased funding to programs for disadvantaged children is the most cost-effectivE.

Smaller class size is always cost-effectivE.

Public schools must pay for which of the following expenses that private schools do not?

Which of the following is an argument against voucher programs?

Students learn about health and nutrition in school.This provides a

Decreasing average class size without changing teacher pay leads to

Without public schools,there would be no K-12 education.

The Following Questions Refer to the graph below. -A tuition subsidy equal to T3 would result in which of the following?

What is the relationship between student achievement and teacher pay?

The Following Questions Refer to the graph below. -What assumption is shown by the fact that MPC = MSC on the graph?

Without market provision of education,there is no mechanism for quality control.

Approximately what percent of its GDP does the United States spend on education?

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

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Exam 6: The Economics of Education: Crisis and Reform

Increased spending on K-12 education is certain to be cost-effectivE.

Increased school funding increases student achievement.

The Following Questions Refer to the graph below. -For which level of education is the family's MPB > MPC?

Private schools must pay some types of costs that public schools do not.

The Following Questions Refer to the graph below. -The negative slope of the demand curve shows that

A purely private K-12 education system would increase existing segregation.

Where did U.S.eighth grade students rank internationally in terms of average math scores in 2007?

Which of the following will decrease the equilibrium quantity of education in a market?

Targeting increased funding to programs for disadvantaged children is the most cost-effectivE.

Smaller class size is always cost-effectivE.

Public schools must pay for which of the following expenses that private schools do not?

Which of the following is an argument against voucher programs?

Students learn about health and nutrition in school.This provides a

Decreasing average class size without changing teacher pay leads to

Without public schools,there would be no K-12 education.

The Following Questions Refer to the graph below. -A tuition subsidy equal to T3 would result in which of the following?

What is the relationship between student achievement and teacher pay?

The Following Questions Refer to the graph below. -What assumption is shown by the fact that MPC = MSC on the graph?

Without market provision of education,there is no mechanism for quality control.

Approximately what percent of its GDP does the United States spend on education?

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

Filters