Bearcat Economics of Education Quiz

Why do governments spend billions funding universal public education?

• To exclude some children

• To make profit

• To reduce social programs

• To benefit individuals and society

What is the 'College Wage Premium'?

• The amount of student debt

• The extra income college graduates earn

• The cost of college tuition

• The unemployment rate for college grads

What are the two main explanations for why college graduates earn more?

• Human Capital theory and Signalling theory

• Human Capital theory and Supply-Side theory

• Keynesian theory and Monetarist theory

• Signalling theory and Demand-Side theory

What is one reason for the rising student debt in the US?

• For-profit colleges and universities

• Decrease in student loan availability

• Decrease in graduate school enrollment

• Decrease in college tuition

What is the average income of a car mechanic?

• $50,000

• $60,000

• $40,000

• $30,000

What is the unemployment rate for people over 25 with a college degree?

• 10%

• 5%

• 3%

• 8.6%

What is the main reason for the government to fund education?

• To make society worse off

• To benefit individuals only

• To increase productivity and standards of living

• To reduce GDP

What is the average amount of student debt in the US in 2012?

• $10,000

• $20,000

• $27,000

• $35,000

What is the main reason for the rising tuition at colleges and universities?

• Luxurious dorms and gourmet dining

• Decrease in the number of administrators

• Decrease in the cost of running a college

• Decrease in competition among schools

What is the main reason for the inequality in the US education system?

• Disadvantaged backgrounds

• Lack of teacher incentives

• Lack of competition

• Lack of funding