What factors cause private and social rates of return for primary and secondary education to diverge in developing countries?
What will be an ideal response?
Subsidies. Credential inflation as a way to select from among qualified applicants in the high wage modern sector.
You might also like to view...
Refer to Figure 27-1. Suppose the economy is in a recession and expansionary fiscal policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) C to B. B) A to B. C) A to E. D) B to C. E) B to A.
Consider a nation in which most workers are unionized. If all the nation's unions band together and succeed in boosting wages established by long-term labor contracts, then
A) there is a leftward shift in just LRAS. B) there is a leftward shift in both LRAS and SRAS. C) there is a rightward shift in just SRAS. D) there is a rightward movement along the SRAS curve.