If the signaling theory of education is correct,
a. workers with more years of formal schooling will earn less than workers with fewer years of formal schooling.
b. additional years of formal schooling do not increase a worker's productivity.
c. workers with more years of formal schooling are less likely to be affected by ability, effort, and chance.
d. men are more likely to earn more than women because men are more likely to have graduated from college.
b
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_______ has more flights hopping around the country than any other carrier
Fill in the blank(s) with the appropriate word(s).
Moral hazard problems arise when
A) lenders have difficulty in distinguishing between good and lemon firms. B) when a downturn in economic activity makes repaying loans difficult for borrowers. C) borrowers have an incentive to act in ways that do not reflect the lender's interests. D) borrowers default on loans.