In a labor-market separating equilibrium with high-skill and low-skill workers and where a costly educational degree is used solely as a signal device, we can say that
A) education is socially inefficient because it is costly and provides no useful skills to the worker.
B) education is socially efficient.
C) education is privately inefficient for high-skill workers.
D) education is privately useful for low-skill workers only.
A
Economics
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If the change in y = 10 and the change in x = 3, there is
A) a positive relationship between y and x. B) a negative relationship between y and x. C) an independent relationship between y and x. D) no relationship between y and x. E) a +0.33 relationship between the two variables.
Economics
From the economic point of view, profit is
A) a four-letter word. B) the same as loss. C) the result of uncertainty. D) a sign of economic injustice. E) none of the above.
Economics