Which of the following examples best describes the signaling theory of education?
a. The hiring manager offers a job to a recent college graduate because she is more beautiful than the rest of the applicants.
b. The hiring manager offers a job to a recent college graduate because she is expected to be more productive than other applicants due to her educational attainment.
c. The hiring manager offers a job to a recent college graduate because the hiring manager has a bias toward people with college degrees.
d. The hiring manager offers a job to a recent college graduate because education is correlated with natural ability.
d
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Economic growth means people produce
A) money. B) material things. C) whatever people value. D) only durable and high-quality goods.
If the price of crude oil falls, the equilibrium price of gasoline ________ and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases