Why Did the National Science Foundation Fund the Long-Term Ecological

question 11

Multiple Choice

Why did the National Science Foundation fund the Long-Term Ecological Research network?

• A) They have more money than they know what to do with.
• B) To keep as many scientists as possible employed
• C) Because it can take a long time for changes to occur in an ecosystem, so experiments take a long time
• D) Because that allows time for many more experiments that teach us how ecosystems work
• E) Because scientists were refusing to do short-term studies since they don't really tell you much

Grasp the signaling theory of education and its relevance to labor market outcomes.

Acknowledge the factors beyond education and experience that contribute to wage determination.

Understand the concept of efficiency wages and their effects on labor market outcomes.

Recognize the economic reasons behind high incomes of superstars.

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Definitions:

Cash Payments Journal

A financial journal that tracks all cash outlays of a business, including expenses, asset purchases, and debt repayments.

Cash Purchase

This term refers to a transaction where goods or services are bought and paid for with cash or cash equivalent immediately at the point of sale.

Supplies Recorded

This refers to the accounting practice of recognizing and recording office or operational supplies as expenses when they are used.

Cash Receipts Journal

A specialized accounting journal used to record all cash inflows or receipts of the business.