Question 1

About how much does the United States spend on education,per pupil?

Accepted Answer

A) $6,000 
B) $7,000 
C) $8,000 
D) $9,000 
E) $10,000 
A) $6,000 
B) $7,000 
C) $8,000 
D) $9,000 
E) $10,000

Question 2

The length of the school year in the United States is longer than in most other developed countries.

Accepted Answer

A) True 
 B)False

Question 3

A decrease in the cost of education will

Accepted Answer

A) Increase the supply of education 
B) Increase the equilibrium tuition 
C) Decrease the equilibrium quantity of education 
D) Increase the equilibrium quantity of education 
E) Shift the demand curve for education to the left 
A) Increase the supply of education 
B) Increase the equilibrium tuition 
C) Decrease the equilibrium quantity of education 
D) Increase the equilibrium quantity of education 
E) Shift the demand curve for education to the left

Question 4

A college education does not improve earnings over a high school degreE.

Accepted Answer

A) True 
 B)False

Question 5

A master's degree increases lifetime earnings over a bachelor's degree by $2.5m over high school graduates.

Accepted Answer

A) True 
 B)False

Question 6

Public K-12 education facilitates equal opportunity.

Accepted Answer

A) True 
 B)False

Question 7

Education is said to be which of the following?

Accepted Answer

A) Individually consumed 
B) Individually produced 
C) A semi-private good 
D) A private good 
E) A public good 
A) Individually consumed 
B) Individually produced 
C) A semi-private good 
D) A private good 
E) A public good

Question 8

The Following Questions Refer to the graph below.  
-Which of the following government actions will move the market equilibrium to the socially optimal number of years of education?

Accepted Answer

A) A tax on education equal to $1,000 
B) A tax on education equal to $3,000 
C) A tuition subsidy equal to $1,000 
D) A tuition subsidy equal to $3,000 
E) Government provision of all education 
A) A tax on education equal to $1,000 
B) A tax on education equal to $3,000 
C) A tuition subsidy equal to $1,000 
D) A tuition subsidy equal to $3,000 
E) Government provision of all education

Question 9

Marginal social benefits equal

Accepted Answer

A) MPB + spillover benefits 
B) MPB - spillover benefits 
C) MPCs 
D) Total benefits + positive externalities in consumption 
E) None of the above 
A) MPB + spillover benefits 
B) MPB - spillover benefits 
C) MPCs 
D) Total benefits + positive externalities in consumption 
E) None of the above

Question 10

Years of education completed are negatively related to criminal activities.

Accepted Answer

A) True 
 B)False

Question 11

Studies of voucher programs indicate that the effects of vouchers on student achievement

Accepted Answer

A) Are small but have negative impact on student performance 
B) Are received primarily by African-American and economically disadvantaged children 
C) Have yet to be examined in large-scale programs 
D) Both b and c 
E) None of the above 
A) Are small but have negative impact on student performance 
B) Are received primarily by African-American and economically disadvantaged children 
C) Have yet to be examined in large-scale programs 
D) Both b and c 
E) None of the above

Question 12

An increase in the marginal benefit of education will cause which of the following?

Accepted Answer

A) The demand curve for education shifts right 
B) The demand curve for education shifts left 
C) The supply curve for education shifts right 
D) The supply curve for education shifts left 
E) The equilibrium number of years of education will decrease 
A) The demand curve for education shifts right 
B) The demand curve for education shifts left 
C) The supply curve for education shifts right 
D) The supply curve for education shifts left 
E) The equilibrium number of years of education will decrease

Question 13

Voucher programs fund students to attend poor performing schools.

Accepted Answer

A) True 
 B)False

Question 14

The Following Questions Refer to the graph below.  
-A tuition subsidy equal to how much will move the market to the socially optimal level of education?

Accepted Answer

A) T3 - T2 
B) T2 - T1 
C) T3 - T1 
D) T1 
E) T2 
A) T3 - T2 
B) T2 - T1 
C) T3 - T1 
D) T1 
E) T2

Question 15

Improved education will lead to higher economic growth in a country.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements does not enjoy widespread agreement?

Accepted Answer

A) Achievement per dollar in U.S.education is too low 
B) Reform of the U.S.education system is necessary to maintain high level human capital 
C) Smaller class sizes can improve student performance 
D) Voucher programs are the most effective way to improve the U.S.education system 
E) Increased teacher pay increases teacher quality 
A) Achievement per dollar in U.S.education is too low 
B) Reform of the U.S.education system is necessary to maintain high level human capital 
C) Smaller class sizes can improve student performance 
D) Voucher programs are the most effective way to improve the U.S.education system 
E) Increased teacher pay increases teacher quality

Question 17

The Following Questions Refer to the graph below.  
-What is the equilibrium level of education in this market?

Accepted Answer

A) 0 years 
B) 1 year 
C) 12 years 
D) 16 years 
E) Between 12 and 16 years 
A) 0 years 
B) 1 year 
C) 12 years 
D) 16 years 
E) Between 12 and 16 years

Question 18

Ninety percent of school-aged children attend public schools in the United States.

Accepted Answer

A) True 
 B)False

Question 19

The empirical evidence of the effectiveness of voucher programs is best described as

Accepted Answer

A) Positive 
B) Negative 
C) Inconsistent 
D) Substantial 
E) Nonexistent 
A) Positive 
B) Negative 
C) Inconsistent 
D) Substantial 
E) Nonexistent

Question 20

The Following Questions Refer to the graph below.  
-What tuition would result in the family demanding 16 years of education?

Accepted Answer

A) $0 
B) Less than $4,000 
C) $4,000 
D) $6,000 
E) $10,000 
A) $0 
B) Less than $4,000 
C) $4,000 
D) $6,000 
E) $10,000

About how much does the United States spend on education,per pupil?

The length of the school year in the United States is longer than in most other developed countries.

A decrease in the cost of education will

A college education does not improve earnings over a high school degreE.

A master's degree increases lifetime earnings over a bachelor's degree by $2.5m over high school graduates.

Public K-12 education facilitates equal opportunity.

Education is said to be which of the following?

The Following Questions Refer to the graph below. -Which of the following government actions will move the market equilibrium to the socially optimal number of years of education?

Marginal social benefits equal

Years of education completed are negatively related to criminal activities.

Studies of voucher programs indicate that the effects of vouchers on student achievement

An increase in the marginal benefit of education will cause which of the following?

Voucher programs fund students to attend poor performing schools.

The Following Questions Refer to the graph below. -A tuition subsidy equal to how much will move the market to the socially optimal level of education?

Improved education will lead to higher economic growth in a country.

Which of the following statements does not enjoy widespread agreement?

The Following Questions Refer to the graph below. -What is the equilibrium level of education in this market?

Ninety percent of school-aged children attend public schools in the United States.

The empirical evidence of the effectiveness of voucher programs is best described as

The Following Questions Refer to the graph below. -What tuition would result in the family demanding 16 years of 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

About how much does the United States spend on education,per pupil?

The length of the school year in the United States is longer than in most other developed countries.

A decrease in the cost of education will

A college education does not improve earnings over a high school degreE.

A master's degree increases lifetime earnings over a bachelor's degree by $2.5m over high school graduates.

Public K-12 education facilitates equal opportunity.

Education is said to be which of the following?

The Following Questions Refer to the graph below. -Which of the following government actions will move the market equilibrium to the socially optimal number of years of education?

Marginal social benefits equal

Years of education completed are negatively related to criminal activities.

Studies of voucher programs indicate that the effects of vouchers on student achievement

An increase in the marginal benefit of education will cause which of the following?

Voucher programs fund students to attend poor performing schools.

The Following Questions Refer to the graph below. -A tuition subsidy equal to how much will move the market to the socially optimal level of education?

Improved education will lead to higher economic growth in a country.

Which of the following statements does not enjoy widespread agreement?

The Following Questions Refer to the graph below. -What is the equilibrium level of education in this market?

Ninety percent of school-aged children attend public schools in the United States.

The empirical evidence of the effectiveness of voucher programs is best described as

The Following Questions Refer to the graph below. -What tuition would result in the family demanding 16 years of 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