Question 1

Which of the following will decrease the equilibrium quantity of education in a market?

Accepted Answer

A)  An increase in the demand for education
B)  A decrease in the demand for education
C)  A decrease in production costs
D)  An increase in the supply of education
E)  None of the above

Question 2

Students learn about health and nutrition in school.This provides a

Accepted Answer

A)  Positive externality in production
B)  Positive externality in consumption
C)  Negative externality in production
D)  Negative externality in consumption
E)  Cost to society

Question 3

What is the relationship between student achievement and teacher pay?

Accepted Answer

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

Question 4

Targeting increased funding to programs for disadvantaged children is the most cost-effectivE.

Accepted Answer

A) True 
 B)False

Question 5

The Following Questions Refer to the graph below.  MPC? A) 1 year B) Between 0 and E1 years C) Between E1 and E* years D) Exactly E1 years E) Exactly E* years" class="answers-bank-image d-inline" rel="preload" >
-For which level of education is the family's MPB > MPC?

Accepted Answer

A)  1 year
B)  Between 0 and E1 years
C)  Between E1 and E* years
D)  Exactly E1 years
E)  Exactly E* years

Question 6

The Following Questions Refer to the graph below. 
-A tuition subsidy equal to T3 would result in which of the following?

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 7

The Following Questions Refer to the graph below. 1 dollars" class="answers-bank-image d-inline" rel="preload" >
-The negative slope of the demand curve shows that

Accepted Answer

A)  The marginal cost of education increases as more is purchased
B)  The marginal benefit of education increases as more is purchased
C)  The marginal benefit of each additional year of education decreases
D)  There are positive spillover benefits of education
E)  Tuition can be raised above T1 dollars

Question 8

Smaller class size is always cost-effectivE.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A)  At the top
B)  Second
C)  Near the middle
D)  Next to the bottom
E)  At the bottom

Question 10

Without public schools,there would be no K-12 education.

Accepted Answer

A) True 
 B)False

Question 11

Decreasing average class size without changing teacher pay leads to

Accepted Answer

A)  Lower quality teachers
B)  A surplus of teachers
C)  Lower costs per pupil
D)  Increased segregation
E)  All of the above

Question 12

Which of the following is an argument against voucher programs?

Accepted Answer

A)  Cream skimming
B)  Reduced social segregation
C)  Decreased efficiency
D)  Increased special education
E)  All of the above

Question 13

Private schools must pay some types of costs that public schools do not.

Accepted Answer

A) True 
 B)False

Question 14

The Following Questions Refer to the graph below. 
-What assumption is shown by the fact that MPC = MSC on the graph?

Accepted Answer

A)  This graph is for public education
B)  There are no positive externalities associated with education
C)  Education has positive spillover benefits for society
D)  The market will produce the socially optimal quantity of education
E)  This graph illustrates a private market for education

Question 15

Increased spending on K-12 education is certain to be cost-effectivE.

Accepted Answer

A) True 
 B)False

Question 16

A purely private K-12 education system would increase existing segregation.

Accepted Answer

A) True 
 B)False

Question 17

Increased school funding increases student achievement.

Accepted Answer

A) True 
 B)False

Question 18

Without market provision of education,there is no mechanism for quality control.

Accepted Answer

A) True 
 B)False

Question 19

Public schools must pay for which of the following expenses that private schools do not?

Accepted Answer

A)  Transportation
B)  Food
C)  Special education
D)  All of the above
E)  None of the above

Question 20

Approximately what percent of its GDP does the United States spend on education?

Accepted Answer

A)  2.0
B)  3.0
C)  3.9
D)  4.2
E)  5.3

Exam 6: The Economics of Education: Crisis and Reform

Students learn about health and nutrition in school.This provides a

Correct AnswerverifiedShow Answer

Targeting increased funding to programs for disadvantaged children is the most cost-effectivE.

Correct AnswerverifiedShow Answer

What is the relationship between student achievement and teacher pay?

Correct AnswerverifiedShow Answer

Which of the following will decrease the equilibrium quantity of education in a market?

Correct AnswerverifiedShow Answer

Private schools must pay some types of costs that public schools do not.

Correct AnswerverifiedShow Answer

The Following Questions Refer to the graph below. -What assumption is shown by the fact that MPC = MSC on the graph?

Correct AnswerverifiedShow Answer

Without public schools,there would be no K-12 education.

Correct AnswerverifiedShow Answer

Smaller class size is always cost-effectivE.

Correct AnswerverifiedShow Answer

Which of the following is an argument against voucher programs?

Correct AnswerverifiedShow Answer

Increased spending on K-12 education is certain to be cost-effectivE.

Correct AnswerverifiedShow Answer

Without market provision of education,there is no mechanism for quality control.

Correct AnswerverifiedShow Answer

Public schools must pay for which of the following expenses that private schools do not?

Correct AnswerverifiedShow Answer

The Following Questions Refer to the graph below. -A tuition subsidy equal to T3 would result in which of the following?

Correct AnswerverifiedShow Answer

Decreasing average class size without changing teacher pay leads to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Increased school funding increases student achievement.

Correct AnswerverifiedShow Answer

A purely private K-12 education system would increase existing segregation.

Correct AnswerverifiedShow Answer

The Following Questions Refer to the graph below. -For which level of education is the family's MPB > MPC?

Correct AnswerverifiedShow Answer

The Following Questions Refer to the graph below. -The negative slope of the demand curve shows that

Correct AnswerverifiedShow Answer

Approximately what percent of its GDP does the United States spend on education?

Correct AnswerverifiedShow Answer

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