The Costs of Obtaining a College Degree for High-Productivity and Low-Productivity

question 52

Multiple Choice

The costs of obtaining a college degree for high-productivity and low-productivity workers are as follows:
High productivity: C_H = $20,000y
Low productivity: C_L = $40,000y
Where y is years in college. Suppose workers with a college degree are paid a lifetime income of $600,000, and workers without a college degree are paid a lifetime income of $450,000. For low-productivity workers, the net benefit of four years of college is _____, while the net benefit of not going to college is _____.

• A) $500,000; $150,000
• B) $440,000; $450,000
• C) $150,000; $40,000
• D) $600,000; $120,000

Recognize the application and impact of cognitive and behavioral therapies in treating psychological disorders.

Identify various types of operant conditioning and their outcomes.

Analyze the role of modeling and observational learning in behavior acquisition.

Comprehend the significance and process of systematic desensitization for treating phobias.

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Definitions:

Money Supply

The whole amount of cash, coins, and the funds in checking and savings accounts that make up the monetary resources within an economy at a specific period.

Monetary Policy

Government or central bank policies aimed at controlling the supply of money and interest rates in an economy.

Fiscal Policy

A government's strategy for managing its budget, especially through taxation and spending decisions, to influence the economy.

Aggregate Demand

The entire market demand for goods and services within an economic environment, determined at an established price level over a fixed duration.