Most Governments Subsidize Basic Education Because

question 387

Multiple Choice

Most governments subsidize basic education because

• A) there are external costs associated with well educated citizens.
• B) the marginal social benefit of education is greater than the marginal private benefit.
• C) of the existence of private schools.
• D) people do not value education enough.

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Definitions:

Type II Error

The failure to reject a false null hypothesis or a false negative in hypothesis testing.

Significance Level

The significance level, denoted by alpha, is the threshold chosen by researchers below which a p-value must fall for results to be considered statistically significant.

Null Hypothesis

A statistical hypothesis that asserts there is no effect or no difference, and any observed deviation from this hypothesis is due to random variation.

Type II Error

A statistical error occurring when the null hypothesis is not rejected when it actually is false.