Why might people choose to go to college?
A. A college education increases one's productivity, which will be rewarded in the labor market with higher wages.
B. Someone enjoys the process of becoming educated.
C. A college education signals to firms that the worker is highly motivated.
D. One cannot find employment.
E. All of these options are reasons people might choose to go to college.
Answer: E
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According the Keynesian macroeconomic model, which of the following was responsible for starting the Great Depression?
A) too little private spending B) too little government spending C) high taxes D) decreases in the quantity of money E) decreases in technology
How much does it cost to tax a dollar of revenue away from the private sector and transfer it to the government to finance a government program?
a. one dollar b. less than one dollar because the administration of and compliance with the tax laws creates jobs for people c. more than a dollar because collection of the taxes requires resources that would otherwise be available for private sector production d. more than a dollar because of the excess burden resulting from the elimination of productive exchanges by the taxes e. Both c and d are correct.