Government policies that increase the efficiency of the education sector

Question

Quizplus · Accepted Answer

Policies that increase efficiency in the education sector can lead to an increase in the growth rate of output and consumption, which unambiguously increases welfare. This is because when individuals have access to better education, they are likely to have higher earning potential and productivity, which can ultimately lead to greater economic growth and higher standards of living. Additionally, a more efficient education sector can result in cost savings, which can be reinvested in other areas of the economy, further boosting output and consumption.

Government Policies That Increase the Efficiency of the Education Sector