According to the signaling theory of education,
a. schooling sends signals to employers in much the same way that advertising sends signals to consumers.
b. a person becomes more productive by earning a college degree.
c. education is less important than natural ability.
d. All of the above are correct.
a
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Carlos has been invited to go skiing for the afternoon with his friends. It will cost $40 for a lift ticket. It is likely Carlos will:
A. overvalue the benefit of skiing. B. find it difficult to place a value on what he might do instead of skiing. C. undervalue the opportunity cost of his afternoon. D. All of these are true.
As a rule of thumb, a parameter estimate is statistically different from zero when the absolute value of the t-statistic is:
A. greater than or equal to 2. B. less than one. C. zero. D. greater than or equal to 1.