ECO 405 Week 5 Quiz Strayer

Click on the Link Below to Purchase A+ Graded Course Material

http://hwgala.com/ECO-405-Week-5-Quiz-Strayer-425.htm

Week 5 Quiz 4 Chapter 6

Chapter 06

The Economics Of Education: Crisis And Reform

Multiple Choice Questions1.According To The Census Bureau, High School Graduates Can Expect To Earn How Much During Their Working Years?A.$45,000B.$1.2 MC.$2.1 MD.$2.5 ME.$4.4 M2.According To The Census Bureau, A College Education Adds How Much To Earnings Over A Person's Work-Life?A.Nearly $1mB.$2.1 MC.$2.5mD.$4.4 ME.Over $5 M3.According To The Census Bureau, Someone With A Professional Degree Can Earn Approximately How Much During A Typical Work-Life?A.$1 MB.$1.2 MC.$2.5 MD.$4.4 ME.Over $5m4.Where Did U.S. Eighth Grade Students Rank Internationally In Terms Of Average Math Scores In 2007?A.At The TopB.SecondC.Near The MiddleD.Next To The BottomE.At The Bottom

5.Where Did U.S. Eighth Grade Students Rank Internationally In Terms Of Average Science Scores In 2007?A.At The TopB.SecondC.In The MiddleD.In The Bottom HalfE.At Bottom6.Which Of The Following Is An Important Difference Between The United States And Other Countries In Terms Of Their K-12 Education System?A.The United States Spends Less On Education Per Pupil Than Most Other CountriesB.The United States Spends A Higher Percentage Of Its Gdp On Education Than Other CountriesC.The United States Has A Shorter School Year Than Most Other CountriesD.The United States Has A Purely Private Market For EducationE.All Of The Above7.About How Much Does The United States Spend On Education, Per Pupil?A.$6,000B.$7,000C.$8,000D.$9,000E.$10,0008.Approximately What Percent Of Its Gdp Does The United States Spend On Education?A.2.0B.3.0C.3.9D.4.2E.5.39.Which Of The Following Best Describes The U.S. K-12 Educational System?A.It Is Largely PrivateB.It Is Mainly Private With Some Public EducationC.It Is About Half Public And Half PrivateD.It Is Predominantly PublicE.It Is Exclusively Public

10.Which Of The Following Is Of The U.S. K-12 Education System Relative To The K-12 Education System Of Other Developed Countries?A.It Has Lower Expenditures Per Pupil And Lower AchievementB.It Has Lower Expenditures Per Pupil And Higher AchievementC.It Has Higher Expenditures Per Pupil And Lower AchievementD.It Has Higher Expenditures Per Pupil And Higher AchievementE.It Has Equivalent Expenditures Per Pupil And Achievement11.In 2003, Approximately What Percent Of School Aged Children Attended Public Schools?A.90%B.75%C.50%D.25%E.10%Questions 12 - 17 Refer To The Graph Below.12.What Assumption Is Shown By The Fact That Mpc = Msc On The Graph?A.This Graph Is For Public EducationB.There Are No Positive Externalities Associated With EducationC.Education Has Positive Spillover Benefits For SocietyD.The Market Will Produce The Socially Optimal Quantity Of EducationE.This Graph Illustrates A Private Market For Education13.What Is This Family's Willingness To Pay For A First Year Of Education?A.$0B.$4,000C.$6,000D.$8,000E.$10,00014.What Is The Equilibrium Level Of Education In This Market?A.0 YearsB.1 YearC.12 YearsD.16 YearsE.Between 12 And 16 Years15.What Tuition Would Result In The Family Demanding 16 Years Of Education?A.$0B.Less Than $4,000C.$4,000D.$6,000E.$10,00016.Which Of The Following Is For The First Years Of Education?A.Mpb < MpcB.Mpb > MpcC.Msb > MscD.Msb < MscE.Mpb = Msb

17.Which Of The Following Is For The 16th Year Of Education?A.Mpb < MpcB.Mpb > MpcC.Msb > MscD.Msb < MscE.Mpb = MsbQuestions 18 - 23 Refer To The Graph Below.18.For Which Level Of Education Is The Family's Mpb > Mpc?A.1 YearB.Between 0 And E1 YearsC.Between E1 And E* YearsD.Exactly E1 YearsE.Exactly E* Years19.The Negative Slope Of The Demand Curve Shows ThatA.The Marginal Cost Of Education Increases As More Is PurchasedB.The Marginal Benefit Of Education Increases As More Is PurchasedC.The Marginal Benefit Of Each Additional Year Of Education DecreasesD.There Are Positive Spillover Benefits Of EducationE.Tuition Can Be Raised Above T1 Dollars

20.The Socially Optimal Level Of EducationA.Is 0 YearsB.Is 1 YearC.Is E1 YearsD.Is E* Years.E.Cannot Be Determined From The Diagram.21.For Which Year Of Education Is The Family's Mpb < Mpc?A.0 YearsB.1 YearC.E1 YearsD.E* YearsE.None Of The Above22.The Slope Of The Supply Curve Indicates That TheA.Marginal Cost Of A Year Of Education Is ConstantB.Marginal Benefit Of An Additional Year Of Education IncreasesC.Marginal Benefit Of An Additional Year Of Education Is ConstantD.Marginal Benefit Of An Additional Year Of Education IncreasesE.Cost Of Education Is Subsidized By The Public23.In The Diagram, The Equilibrium Level Of Education IsA.0 YearsB.1 YearC.E1 YearsD.E* YearsE.Between E1 And E* Years24.What Happens To The Marginal Benefit Of Education As A Child Gets More Schooling? It WillA.IncreaseB.DecreaseC.Stay The SameD.Become InfiniteE.Become Negative25.Which Of The Following Is A Benefit Of Increased Education?A.Improved LiteracyB.Increased EarningsC.Improved HealthD.Greater SatisfactionE.All Of The Above26.A Family's Demand For Education For A Child Reflects The Family'sA.IncomeB.Preferences For EducationC.Mpb Received From The EducationD.Opportunity Cost Of TuitionE.All Of The Above27.Which Of The Following Happens As Tuition Increases?A.The Demand For Education IncreasesB.The Demand For Education DecreasesC.The Supply Of Education IncreasesD.The Years Of Education Demanded FallE.The Cost Of Education Increases28.The Supply Of Private Education Is Represented ByA.The Mpb CurveB.The Mpc CurveC.The Msc CurveD.The Msb CurveE.None Of The Above29.An Increase In The Demand For Education WillA.Increase The Supply Of EducationB.Decrease The Equilibrium TuitionC.Decrease The Equilibrium Quantity Of EducationD.Increase The Equilibrium Quantity Of EducationE.Shift The Demand Curve For Education To The Left30.A Decrease In The Cost Of Education WillA.Increase The Supply Of EducationB.Increase The Equilibrium TuitionC.Decrease The Equilibrium Quantity Of EducationD.Increase The Equilibrium Quantity Of EducationE.Shift The Demand Curve For Education To The Left31.Which Of The Following Will Decrease The Equilibrium Quantity Of Education In A Market?A.An Increase In The Demand For EducationB.A Decrease In The Demand For EducationC.A Decrease In Production CostsD.An Increase In The Supply Of EducationE.None Of The Above32.An Increase In Family Income WillA.Increase The Demand For EducationB.Decrease The Demand For EducationC.Increase The Quantity Of Education SuppliedD.Increase The Quantity Of Education DemandedE.Decrease The Equilibrium Level Of Tuition33.An Increase In The Marginal Benefit Of Education Will Cause Which Of The Following?A.The Demand Curve For Education Shifts RightB.The Demand Curve For Education Shifts LeftC.The Supply Curve For Education Shifts RightD.The Supply Curve For Education Shifts LeftE.The Equilibrium Number Of Years Of Education Will Decrease34.The Creation Of New Learning Technologies Will Cause Which Of The Following To Decrease?A.The Demand For EducationB.The Supply Of EducationC.The Cost Of EducationD.The Equilibrium Quantity Of EducationE.The Number Of Children In School

35.If The Earnings Expected From A College Education Increase, It Will Lead To An Increase InA.The Demand For K-12 EducationB.The Supply Of K-12 EducationC.The Cost Of EducationD.The Teacher SalariesE.All Of The Above36.Education Is Said To Be Which Of The Following?A.Individually ConsumedB.Individually ProducedC.A Semi-Private GoodD.A Private GoodE.A Public Good37.I Benefit Because You Become More Educated. This Is An Example Of AA.Negative Externality In ConsumptionB.Spillover CostC.Positive Externality In ProductionD.Positive Externality In ConsumptionE.Negative Externality In Production38.As The Number Of Years Of Education Increases, The Spillover Benefits WillA.IncreaseB.DecreaseC.Stay The SameD.Become NegativeE.None Of The Above39.Which Of The Following Is An Example Of A Possible Spillover Benefit From Education?A.An Improved Democratic ProcessB.Improved HealthC.Improved Public SafetyD.More Charitable GivingE.All Of The Above40.Students Learn About Health And Nutrition In School. This Provides AA.Positive Externality In ProductionB.Positive Externality In ConsumptionC.Negative Externality In ProductionD.Negative Externality In ConsumptionE.Cost To Society41.Marginal Social Benefits EqualA.Mpb + Spillover BenefitsB.Mpb - Spillover BenefitsC.MpcsD.Total Benefits + Positive Externalities In ConsumptionE.None Of The Above42.With Positive Externalities In Consumption, The Market Equilibrium Quantity Will BeA.Greater Than Socially OptimalB.Less Than Socially OptimalC.Equal To The Socially Optimal LevelD.Higher Than OtherwiseE.None Of The Above43.Educated Citizens Are More Likely To Be Informed Voters. This Is An Example Of AA.Positive Externality In ProductionB.Positive Externality In ConsumptionC.Negative Externality In ProductionD.Negative Externality In ConsumptionE.Cost To Society.44.To Be Socially Optimal, Education Should Be Provided To The Point WhereA.Mpb = MpcB.Mpb = MscC.Msb = MpcD.Msb = MscE.Mpb = Msb

45.The Existence Of Spillover Benefits Results In An Equilibrium Quantity In The Market That Is Socially Optimal.A.Higher ThanB.Lower ThanC.Equal ToD.Better ThanE.More Expansive Than46.The Argument For Government Provision Of Education Hinges On The Existence OfA.Spillover Costs.B.Spillover Benefits.C.Voucher Programs.D.Negative Externalities In Production.E.Negative Externalities In ConsumptionQuestions 47 - 50 Refer To The Graph Below.47.The Socially Optimal Years Of Education IsA.1B.Between 1 And 11C.11D.12E.1648.What Is The Equilibrium Number Of Years Of Education The Market Will Provide?A.0B.1C.11D.12E.1649.Which Of The Following Government Actions Will Move The Market Equilibrium To The Socially Optimal Number Of Years Of Education?A.A Tax On Education Equal To $1,000B.A Tax On Education Equal To $3,000C.A Tuition Subsidy Equal To $1,000D.A Tuition Subsidy Equal To $3,000E.Government Provision Of All Education50.A Tuition Subsidy Of $6,000 Would Lead ToA.The Socially Optimal Quantity Of EducationB.Greater Than The Socially Optimal Quantity Of EducationC.Less Than The Socially Optimal Quantity Of EducationD.More Public EducationE.A Budget Surplus

Questions 51 - 54 Refer To The Graph Below.51.The Socially Optimal Level Of Education IsA.0B.Between 0 And E1C.E1D.E2E.E352.The Market Equilibrium Level Of Education IsA.0B.Between 0 And E1C.E1D.E2E.E3

53.A Tuition Subsidy Equal To How Much Will Move The Market To The Socially Optimal Level Of Education?A.T3 - T2B.T2 - T1C.T3 - T1D.T1E.T254.A Tuition Subsidy Equal To T3 Would Result In Which Of The Following?A.The Socially Optimal Quantity Of EducationB.Greater Than The Socially Optimal Quantity Of EducationC.Less Than The Socially Optimal Quantity Of EducationD.More Public EducationE.A Budget Surplus55.Greater Segregation Along Racial Lines Is A Likely Result OfA.Purely Private K-12 EducationB.No Public K-12 EducationC.Voucher ProgramsD.Tuition SubsidiesE.All Of The Above56.A Purely Private K-12 System Will Lead ToA.Lower Private CostsB.Increased Public CostsC.Decreased Racial SegregationD.Increased InequalityE.Greater Social Benefits57.In A Purely Private K-12 Education System, Spaces Would Be Allocated Based OnA.AbilityB.EquityC.IncomeD.Geographic BoundariesE.None Of The Above

58.In The Existing Public K-12 Education System, Spaces Are Allocated Based OnA.AbilityB.EquityC.IncomeD.Geographic BoundariesE.None Of The Above59.A Program To Provide Public Funding For Students In Poor Performing Public Schools To Attend Other Schools Is Known AsA.A Voucher ProgramB.A Charter SchoolC.A Tuition TaxD.A Welfare ProgramE.Privatization60.The Current K-12 Education System Can Be Described AsA.PrivateB.CentralizedC.DecentralizedD.State OwnedE.None Of The Above61.Centralized Planning Leads To Which Of The Following?A.Limited Consumer ChoiceB.Decreased QualityC.Increased PricesD.Lack Of ResponsivenessE.All Of The Above

62.Schools In Which Parents Or Other Groups Were Permitted To Create A New School With State Funding And Were Given Control Over Operations Are Known AsA.Private SchoolsB.Voucher SchoolsC.Magnet SchoolsD.Experimental SchoolsE.Charter Schools63.The Empirical Evidence Of The Effectiveness Of Voucher Programs Is Best Described AsA.PositiveB.NegativeC.InconsistentD.SubstantialE.Nonexistent64.Which Of The Following Is An Argument Against Voucher Programs?A.Cream SkimmingB.Reduced Social SegregationC.Decreased EfficiencyD.Increased Special EducationE.All Of The Above65.The Cream Skimming Argument Says That The Students Who Choose A Voucher Program Will BeA.Higher IncomeB.Lower IncomeC.Higher AchievingD.Non-MinorityE.None Of The Above66.Poor Students Are Less Likely To Participate In Voucher Programs Because OfA.Less InformationB.Higher Transportation CostsC.Fewer Financial ResourcesD.A Weaker Tradition Of EducationE.All Of The Above67.Private School Cost Per Pupil Is Lower Because OfA.Fund RaisingB.Private ContributionsC.Student FeesD.Volunteer LaborE.All Of The Above68.What Is The Relationship Between School Funding And Student Achievement?A.PositiveB.NegativeC.MixedD.UnrelatedE.Inverse69.What Is The Relationship Between Student Achievement And Teacher Pay?A.PositiveB.NegativeC.MixedD.UnrelatedE.Inverse70.What Is The Relationship Between Teacher Pay And A Shortage Of Teachers?A.PositiveB.NegativeC.MixedD.UnrelatedE.Direct71.Public Schools Must Pay For Which Of The Following Expenses That Private Schools Do Not?A.TransportationB.FoodC.Special EducationD.All Of The AboveE.None Of The Above72.A Reduction In Class Size Should Be Undertaken As Long As The Marginal Benefit Of The Decrease IsA.PositiveB.NegativeC.Greater Than The Marginal CostD.Less Than The Marginal CostE.Increasing73.Decreasing Average Class Size Without Changing Teacher Pay Leads ToA.Lower Quality TeachersB.A Surplus Of TeachersC.Lower Costs Per PupilD.Increased SegregationE.All Of The Above74.Which Of The Following Statements Does Not Enjoy Widespread Agreement?A.Achievement Per Dollar In U.S. Education Is Too LowB.Reform Of The U.S. Education System Is Necessary To Maintain High Level Human CapitalC.Smaller Class Sizes Can Improve Student PerformanceD.Voucher Programs Are The Most Effective Way To Improve The U.S. Education SystemE.Increased Teacher Pay Increases Teacher Quality75.Education Could Be Considered A Semi-Private Good, SinceA.There Are Spillover Benefits To Other Members Of Society Resulting From The Education Of A ChildB.Education Of The Population Improves Everyone's Lives Since It Results In Greater Productivity And Income For All Members Of SocietyC.There Are Benefits To Society From Education, Since It Reduces The Crime RateD.Education Produces Positive Externalities To SocietyE.All Of The Above

76.If Government Wishes To Increase The Quantity Of Higher Education Consumed, What Can Be Done To Accomplish This?A.Charge Tuition That Is Below The Full Costs Of Providing The Educational ServicesB.Operate Public CollegesC.Provide Reduced Tuition To StudentsD.Any Of The Above Alternatives Would Increase The Consumption Of EducationE.The Government Should Not Attempt To Increase Education, Since It Is A Private Good

77.Studies Of Voucher Programs Indicate That The Effects Of Vouchers On Student AchievementA.Are Small But Have Negative Impact On Student PerformanceB.Are Received Primarily By African-American And Economically Disadvantaged Children C.Have Yet To Be Examined In Large-Scale ProgramsD.Both B And CE.None Of The Above

78.Research On The Effects Of Charter Schools Show A.There Are Significantly Positive Impacts On Student PerformanceB.There Are Significantly Negative Impacts On Student Performance C.There Are Mixed Results, With Positive Impacts In Some Schools And Negative In OthersD.Research Has Yet To Be Undertaken On These New Types Of SchoolsE.None Of The Above

True / False Questions79.A College Education Does Not Improve Earnings Over A High School Degree. 80.A Master's Degree Increases Lifetime Earnings Over A Bachelor's Degree By $2.5m Over High School Graduates. 81.More Education Will Increase The Revenue A Worker Adds To A Firm. 82.Improved Education Will Lead To Higher Economic Growth In A Country. 83.American High School Graduates Outperform All Other Countries On Math And Science Exams. 84.The Length Of The School Year In The United States Is Longer Than In Most Other Developed Countries. 85.The United States Spends Over $8,000 Per Pupil On Secondary Education. 86.The United States Is Toward The Middle Of Countries In Rankings Of Percent Of Gdp Per Capita Spent On Education. 87.Ninety Percent Of School-Aged Children Attend Public Schools In The United States. 88.There Are Approximately 50 Million School-Aged Children In The United States. 89.The Marginal Benefit Of Education Increases As A Student Completes More Years Of Education. 90.More Education Leads To Improved Decision-Making In Families. 91.The Move From Illiteracy To Literacy Has High Marginal Benefits. 92.A Family's Demand For Education Comes From Its Marginal Private Benefits.

93.The Demand Curve For Education Has A Positive Slope. 94.Lower Tuition Rates Lead To Less Education. 95.Without Public Schools, There Would Be No K-12 Education. 96.Without Market Provision Of Education, There Is No Mechanism For Quality Control. 97.A Family Will Purchase Private Education As Long As The Mpb > Mpc. 98.Increased Income Will Increase The Demand For Education. 99.New Learning Technologies Will Increase The Cost Of Providing K-12 Education. 100.Everyone Agrees That Education Provides Significant Positive Spillover Benefits. 101.Years Of Education Completed Are Negatively Related To Criminal Activities. 102.The Greatest Positive Externalities Accrue In The Early Years Of K-12 Education. 103.Msb Of Education = Mpb + Positive Externalities. 104.If There Are Positive Externalities From Education, The Market Will Not Produce The Socially Optimal Level Of Education. 105.The Government Can Increase The Equilibrium Quantity Of Education In A Market Through Tuition Subsidies. 106.A Significant Positive Externality Of Education Would Support The Argument Against Public Education. 107.Public K-12 Education Facilitates Equal Opportunity. 108.A Purely Private K-12 Education System Would Increase Existing Segregation. 109.Markets Ration Education Based On A Price/Quality Trade-Off.

110.Public Schools Ration Education Based On A Price/Quality Tradeoff.

111.Voucher Programs Fund Students To Attend Poor Performing Schools. 112.Charter Schools Are Privately Funded And Community Controlled. 113.High-Income Students And Their Families Are More Likely To Benefit From Voucher Programs. 114.Voucher Programs Have Been Accused Of "Cream Skimming." 115.The Costs Of Private Schools Are Greater Than Their Tuition. 116.Private Schools Must Pay Some Types Of Costs That Public Schools Do Not. 117.Economists Agree That Voucher Programs Improve K-12 Education. 118.Smaller Class Size Increases Student Achievement. 119.Higher Teacher Salaries Do Not Change Student Achievement. 120.The Achievement Of Low-Income Students Improves More With Smaller Class Sizes, Relative To Higher Income Students. 121.Smaller Class Size Is Always Cost-Effective. 122.Increased School Funding Increases Student Achievement. 123.Increasing Teachers' Salaries Does Not Affect Student Achievement. 124.The Opportunity Cost Of Becoming A Teacher Is The Salary Of Similarly Trained Professionals. 125.Increased Spending On K-12 Education Is Certain To Be Cost-Effective. 126.The United States' K-12 Education System Has An Efficient Level Of Achievement Per Dollar Spent. 127.Increased Competition In K-12 Education Can Lead To An Improved Education System. 128.Targeting Increased Funding To Programs For Disadvantaged Children Is The Most Cost-Effective.