Education Is Heavily Subsidized Through Public Schools and Government Scholarships

question 161

Multiple Choice

Education is heavily subsidized through public schools and government scholarships. This subsidization of education reflects the fact that

• A)a negative externality requires a subsidy to move the market equilibrium closer to the social optimum.
• B)the social cost of education exceeds the private cost of education.
• C)the social value of education exceeds the private value of education.
• D)the market-equilibrium quantity of education exceeds the optimal quantity of education.

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Definitions:

Extinction

Within the field of psychology, it refers to the process where a conditioned response slowly diminishes and ultimately vanishes when the conditioned stimulus isn't presented together with the unconditioned stimulus anymore.

Rational Emotive Behavior Therapy (REBT)

Cognitive behavioral therapy in which clients are directly challenged in their irrational beliefs and helped to restructure their thinking into more rational belief statements.

Magnification

In cognitive psychology, a distortion involving exaggerating the importance or significance of events, often seen in anxiety and depression.

Minimization

A defense mechanism where the individual downplays the significance or impact of an event or emotion.