What is implied when the wage-schooling profile is drawn as a concave (i.e., increasing at a decreasing rate) function?
A) The marginal return to schooling increases as years of schooling increases.
B) The marginal return to schooling is positive but falling as years of schooling increases.
C) Average wages fall as years of schooling increases.
D) The cost of schooling increases but at a decreasing rate.
E) The cost of schooling decreases but at an increasing rate.
Correct Answer:
Verified
Q2: The slope of the wage-schooling locus provides
Q3: If ability is positively related to schooling,
Q4: What is the stopping rule for choosing
Q5: Which statement about human capital is false?
A)
Q6: Selection bias is a problem when trying
Q7: Which of the following reasons is not
Q8: Paula is considering going to law school.
Q9: Why might people choose to go to
Q10: Which group tends to have the highest
Q11: Labor force participation rates tend to
A) increase
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents