From 1970 to 2010, the Real Price of a College

question 3

Multiple Choice

From 1970 to 2010, the real price of a college education increased, and total enrollment increased. Which of the following could have caused this increase in price and enrollment?

• A) A shift to the right in the supply curve for college education and a shift to the left in the demand curve for college education.
• B) A shift to the left in the supply curve for college education and a shift to the right in the demand curve for college education.
• C) A shift to the left in the supply curve for college education and a shift to the left in the demand curve for college education.
• D) none of the above

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Definitions:

Annual Performance Reviews

A formal assessment process where an employee's job performance is documented and discussed, often yearly, by supervisors.

Pay Raise

An increase in the amount of salary or wages given to an employee, typically as a recognition of performance or to adjust for inflation and living costs.

Contingent Reward

A leadership strategy where rewards or punishments are given based on the performance of the followers.

Management By Exception

A management strategy where leaders intervene only when necessary, mainly when there are deviations from expected outcomes; it emphasizes autonomy in the regular tasks.