College Graduates Are Paid More, on Average, Partly Because They

question 246

True/False

College graduates are paid more, on average, partly because they are expected to possess more human capital.

---

Definitions:

Price Elasticity

The degree to which the demand for a good is responsive to changes in its price.

Tax Passed

Occurs when the burden of a tax is shifted from the entity legally responsible for it to another party, such as consumers.

Import Quota

A regulatory measure that sets a physical limit on the quantity of goods that can be imported into a country over a specified period of time.

Tariff

A tax imposed by a government on goods and services imported from other countries, used to control trade.