In the US Each Additional Year of Schooling Has Historically

question 122

Multiple Choice

In the US each additional year of schooling has historically raised a person's wage on average by about

• A)5%.In less developed countries the gap between the wages of educated and uneducated workers is smaller.
• B)10%.In less developed countries the gap between the wages of educated and uneducated workers is smaller.
• C)5%.In less developed countries the gap between the wages of educated and uneducated workers is larger.
• D)10%.In less developed countries the gap between the wages of educated and uneducated workers is larger.

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Definitions:

Economic Responsibility

The obligation of an organization to make decisions and take actions that will contribute to the economic well-being of society.

Classical View

A perspective on management and organizational theory that emphasizes efficiency, hierarchical structure, and the importance of planning and formal procedures.

CSR

Corporate Social Responsibility (CSR) refers to a company's commitment to operate in an economically, socially, and environmentally sustainable manner.

Shareholders

Shareholders are individuals or entities that own shares in a corporation, giving them partial ownership and possibly the right to vote on corporate matters.