If You Compared the Short-Run Demand and Long-Run Demand for Education

question 158

Multiple Choice

If you compared the short-run demand and long-run demand for education at your college, you would almost certainly find that

• A) the long-run demand curve was steeper than the short-run demand curve.
• B) a tuition increase would reduce enrollment more in the long run than in the short run.
• C) a reduction in tuition would increase enrollment in the short run but not in the long run.
• D) the short-run and long-run demand curves were identical.

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Definitions:

Outbreeding

The practice of mating organisms from different populations or genetic backgrounds to increase genetic diversity and vigor.

Flynn Effect

The observed substantial and long-term increase in both fluid and crystallized intelligence test scores that have been measured in various parts of the world over the 20th century.

Flynn Effect

The observed rise over time in standardized intelligence test scores, attributed to various factors such as improved education and nutrition.

Raw Scores

The original, unmodified scores obtained directly from tests or assessments.