The Latent Function of Formal Education Is to Teach Knowledge

question 91

True/False

The latent function of formal education is to teach knowledge and skills, such as writing, reading, and arithmetic.

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Definitions:

Tariff

A tax imposed by a government on imported or exported goods to protect domestic industries or to generate revenue.

Producer Surplus

The disparity between the amount producers are prepared to take for a product or service and the amount they actually get.

Tariff Revenue

The income generated for a government from taxing imported goods.

Consumer Surplus

The gap between what consumers are prepared and capable of spending on a product or service versus what they actually spend.