Question 1

How many years of schooling will Matt acquire?

Accepted Answer

A)  1 year 
B)  2 years 
C)  3 years 
D)  4 years 
E)  5 years 
A)  1 year 
B)  2 years 
C)  3 years 
D)  4 years 
E)  5 years

Question 2

What is the individual's optimal level of schooling?

Accepted Answer

A)  2 years 
B)  3 years 
C)  4 years 
D)  5 years 
E)  6 years 
A)  2 years 
B)  3 years 
C)  4 years 
D)  5 years 
E)  6 years

Question 3

Which of the following is true about earnings and educational levels in the United States?

Accepted Answer

A)  The median annual income of women is higher than men for all educational levels. 
B)  The highest percentage of unemployed workers have received some college training. 
C)  The highest percentage of unemployed workers have less than a high school education. 
D)  College enrollment has increased steadily for only men since 1960. 
E)  College enrollment has increased steadily for only women since 1960. 
A)  The median annual income of women is higher than men for all educational levels. 
B)  The highest percentage of unemployed workers have received some college training. 
C)  The highest percentage of unemployed workers have less than a high school education. 
D)  College enrollment has increased steadily for only men since 1960. 
E)  College enrollment has increased steadily for only women since 1960.

Question 4

What do the answers to problems 19 and 20 imply about Carolina's and Matt's circumstances?

Accepted Answer

A)  An additional dollar of investing in Matt's education has a higher rate of return than Carolina's. 
B)  An additional dollar of investing in Carolina's education has a higher rate of return than Matt's. 
C)  An additional dollar of investing in Matt's education has the same rate of return as Carolina's. 
D)  Matt has higher innate abilities. 
E)  Carolina has higher innate abilities. 
A)  An additional dollar of investing in Matt's education has a higher rate of return than Carolina's. 
B)  An additional dollar of investing in Carolina's education has a higher rate of return than Matt's. 
C)  An additional dollar of investing in Matt's education has the same rate of return as Carolina's. 
D)  Matt has higher innate abilities. 
E)  Carolina has higher innate abilities.

Question 5

How many years of schooling does Carolina acquire?

Accepted Answer

A)  1 year 
B)  2 years 
C)  3 years 
D)  4 years 
E)  5 years 
A)  1 year 
B)  2 years 
C)  3 years 
D)  4 years 
E)  5 years

Question 6

Which of the following would cause Brian to not be willing to pay as much to go to college?

Accepted Answer

A)  His discount rate decreases to 5%. 
B)  His wage at the retail store increases to $10K. 
C)  His wage after graduation increases to $150K. 
D)  His wage at the retail store decreases to $10K. 
E)  both A and B 
A)  His discount rate decreases to 5%. 
B)  His wage at the retail store increases to $10K. 
C)  His wage after graduation increases to $150K. 
D)  His wage at the retail store decreases to $10K. 
E)  both A and B

Question 7

Sharon will invest in another year of school if one more year of school costs

Accepted Answer

A)  $20 
B)  $26 
C)  $30 
D)  $50 
E)  all of the above 
A)  $20 
B)  $26 
C)  $30 
D)  $50 
E)  all of the above

Question 8

Amanda is less likely to attend college if

Accepted Answer

A)  she is older. 
B)  she expects to retire at an older age. 
C)  she values the future more than the present. 
D)  there is a low demand for college-educated workers. 
E)  she derives utility from attending classes. 
A)  she is older. 
B)  she expects to retire at an older age. 
C)  she values the future more than the present. 
D)  there is a low demand for college-educated workers. 
E)  she derives utility from attending classes.

Question 9

What is Brian's reservation schooling cost?

Accepted Answer

A)  $75K 
B)  $80K 
C)  $85K 
D)  $90K 
E)  $95K 
A)  $75K 
B)  $80K 
C)  $85K 
D)  $90K 
E)  $95K

Question 10

Which of the following does not help develop human capital?

Accepted Answer

A)  attending college for 4 years 
B)  the government investing in public schools 
C)  a firm purchases another computer so two individuals no longer have to share 
D)  a parent teaching their children about religion 
E)  a supervisor training a worker in how to use a new machine in the factory 
A)  attending college for 4 years 
B)  the government investing in public schools 
C)  a firm purchases another computer so two individuals no longer have to share 
D)  a parent teaching their children about religion 
E)  a supervisor training a worker in how to use a new machine in the factory

Question 11

Which of the following will make an individual less likely to attend college?

Accepted Answer

A)  a decrease in the interest rate 
B)  an increase in the wage paid to college educated students 
C)  an increase in the wage paid to individuals with a high school education 
D)  an increase in the number of years until retirement 
E)  an increased demand for skilled workers 
A)  a decrease in the interest rate 
B)  an increase in the wage paid to college educated students 
C)  an increase in the wage paid to individuals with a high school education 
D)  an increase in the number of years until retirement 
E)  an increased demand for skilled workers

Question 12

According to the human-capital investment framework,

Accepted Answer

A)  higher ability workers choose to invest more in human capital. 
B)  education increases productivity,which increases wages. 
C)  education does not affect productivity. 
D)  education affects wages by indicating a worker has more innate abilities. 
E)  workers who choose to attend college are not maximizing their expected lifetime earnings. 
A)  higher ability workers choose to invest more in human capital. 
B)  education increases productivity,which increases wages. 
C)  education does not affect productivity. 
D)  education affects wages by indicating a worker has more innate abilities. 
E)  workers who choose to attend college are not maximizing their expected lifetime earnings.

How many years of schooling will Matt acquire?

What is the individual's optimal level of schooling?

Which of the following is true about earnings and educational levels in the United States?

What do the answers to problems 19 and 20 imply about Carolina's and Matt's circumstances?

How many years of schooling does Carolina acquire?

Which of the following would cause Brian to not be willing to pay as much to go to college?

Sharon will invest in another year of school if one more year of school costs

Amanda is less likely to attend college if

What is Brian's reservation schooling cost?

Which of the following does not help develop human capital?

Which of the following will make an individual less likely to attend college?

According to the human-capital investment framework,

Introduction

The Uslabor Market

The Short Run Demand for Labor

The Supply of Labor

On-The-Job Training

Competitive Equilibrium

Policy Application: the Minimum Wage

Policy Application: the War on Poverty

Death and Injury in the Usworkplace-A Hedonic Analysis

Discrimination I: Theory

Discrimination Ii: Evidence and Policy

The Hiring Process

Incentives

Tasks,technologies,and Organizational Design

Careers and the Employment Relation

The Long Run Demand for Labor and Adjustment Costs

Filters

Exam 5: Human Capital

How many years of schooling will Matt acquire?

What is the individual's optimal level of schooling?

Which of the following is true about earnings and educational levels in the United States?

What do the answers to problems 19 and 20 imply about Carolina's and Matt's circumstances?

How many years of schooling does Carolina acquire?

Which of the following would cause Brian to not be willing to pay as much to go to college?

Sharon will invest in another year of school if one more year of school costs

Amanda is less likely to attend college if

What is Brian's reservation schooling cost?

Which of the following does not help develop human capital?

Which of the following will make an individual less likely to attend college?

According to the human-capital investment framework,

Introduction

The Uslabor Market

The Short Run Demand for Labor

The Supply of Labor

On-The-Job Training

Competitive Equilibrium

Policy Application: the Minimum Wage

Policy Application: the War on Poverty

Death and Injury in the Usworkplace-A Hedonic Analysis

Discrimination I: Theory

Discrimination Ii: Evidence and Policy

The Hiring Process

Incentives

Tasks,technologies,and Organizational Design

Careers and the Employment Relation

The Long Run Demand for Labor and Adjustment Costs

Filters