Question 1

What is the relationship between school funding and student achievement?

Accepted Answer

A)  Positive
B)  Negative
C)  Mixed
D)  Unrelated
E)  Inverse

Question 2

Economists agree that voucher programs improve K-12 education.

Accepted Answer

A) True 
 B)False

Question 3

If the earnings expected from a college education increase,it will lead to an increase in

Accepted Answer

A)  The demand for K-12 education
B)  The supply of K-12 education
C)  The cost of education
D)  The teacher salaries
E)  All of the above A

Question 4

According to the Census Bureau,high school graduates can expect to earn how much during their working years?

Accepted Answer

A)  $45,000
B)  $1.2 m
C)  $2.1 m
D)  $2.5 m
E)  $4.4 m

Question 5

Where did U.S.eighth grade students rank internationally in terms of average science scores in 2007?

Accepted Answer

A)  At the top
B)  Second
C)  In the middle
D)  In the bottom half
E)  At bottom

Question 6

Which of the following is a benefit of increased education?

Accepted Answer

A)  Improved literacy
B)  Increased earnings
C)  Improved health
D)  Greater satisfaction
E)  All of the above

Question 7

The Following Questions Refer to the graph below. 1 years D) Is E* years. E) Cannot be determined from the diagram." class="answers-bank-image d-inline" rel="preload" >
-The socially optimal level of education

Accepted Answer

A)  Is 0 years
B)  Is 1 year
C)  Is E1 years
D)  Is E* years.
E)  Cannot be determined from the diagram.

Question 8

The existence of spillover benefits results in an equilibrium quantity in the market that is socially optimal.

Accepted Answer

A)  Higher than
B)  Lower than
C)  Equal to
D)  Better than
E)  More expansive than

Question 9

If government wishes to increase the quantity of higher education consumed,what can be done to accomplish this?

Accepted Answer

A)  Charge tuition that is below the full costs of providing the educational services
B)  Operate public colleges
C)  Provide reduced tuition to students
D)  Any of the above alternatives would increase the consumption of education
E)  The government should not attempt to increase education,since it is a private good

Question 10

Lower tuition rates lead to less education.

Accepted Answer

A) True 
 B)False

Question 11

Increasing teachers' salaries does not affect student achievement.

Accepted Answer

A) True 
 B)False  False

Question 12

The Following Questions Refer to the graph below. 
-A tuition subsidy of $6,000 would lead to

Accepted Answer

A)  The socially optimal quantity of education
B)  Greater than the socially optimal quantity of education
C)  Less than the socially optimal quantity of education
D)  More public education
E)  A budget surplus

Question 13

Everyone agrees that education provides significant positive spillover benefits.

Accepted Answer

A) True 
 B)False

Question 14

With positive externalities in consumption,the market equilibrium quantity will be

Accepted Answer

A)  Greater than socially optimal
B)  Less than socially optimal
C)  Equal to the socially optimal level
D)  Higher than otherwise
E)  None of the above

Question 15

Markets ration education based on a price/quality trade-off.
110.Public schools ration education based on a price/quality tradeoff.

Accepted Answer

A) True 
 B)False

Question 16

What happens to the marginal benefit of education as a child gets more schooling? It will

Accepted Answer

A)  Increase
B)  Decrease
C)  Stay the same
D)  Become infinite
E)  Become negative

Question 17

A significant positive externality of education would support the argument against public education.

Accepted Answer

A) True 
 B)False

Question 18

Smaller class size increases student achievement.
119.Higher teacher salaries do not change student achievement.

Accepted Answer

A) True 
 B)False  True

Question 19

American high school graduates outperform all other countries on math and science exams.

Accepted Answer

A) True 
 B)False

Question 20

The achievement of low-income students improves more with smaller class sizes,relative to higher income students.

Accepted Answer

A) True 
 B)False

Exam 6: The Economics of Education: Crisis and Reform

What is the relationship between school funding and student achievement?

Correct AnswerverifiedShow Answer

Economists agree that voucher programs improve K-12 education.

Correct AnswerverifiedShow Answer

If the earnings expected from a college education increase,it will lead to an increase in

Correct AnswerverifiedA

According to the Census Bureau,high school graduates can expect to earn how much during their working years?

Correct AnswerverifiedShow Answer

Where did U.S.eighth grade students rank internationally in terms of average science scores in 2007?

Correct AnswerverifiedShow Answer

Which of the following is a benefit of increased education?

Correct AnswerverifiedShow Answer

The Following Questions Refer to the graph below. -The socially optimal level of education

Correct AnswerverifiedShow Answer

The existence of spillover benefits results in an equilibrium quantity in the market that is socially optimal.

Correct AnswerverifiedShow Answer

If government wishes to increase the quantity of higher education consumed,what can be done to accomplish this?

Correct AnswerverifiedShow Answer

Lower tuition rates lead to less education.

Correct AnswerverifiedShow Answer

Increasing teachers' salaries does not affect student achievement.

Correct AnswerverifiedFalse

The Following Questions Refer to the graph below. -A tuition subsidy of $6,000 would lead to

Correct AnswerverifiedShow Answer

Everyone agrees that education provides significant positive spillover benefits.

Correct AnswerverifiedShow Answer

With positive externalities in consumption,the market equilibrium quantity will be

Correct AnswerverifiedShow Answer

Markets ration education based on a price/quality trade-off. 110.Public schools ration education based on a price/quality tradeoff.

Correct AnswerverifiedShow Answer

What happens to the marginal benefit of education as a child gets more schooling? It will

Correct AnswerverifiedShow Answer

A significant positive externality of education would support the argument against public education.

Correct AnswerverifiedShow Answer

Smaller class size increases student achievement. 119.Higher teacher salaries do not change student achievement.

Correct AnswerverifiedTrue

American high school graduates outperform all other countries on math and science exams.

Correct AnswerverifiedShow Answer

The achievement of low-income students improves more with smaller class sizes,relative to higher income students.

Correct AnswerverifiedShow Answer

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False

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True

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