A Public School Currently It Pays All Teachers the Same

question 29

Multiple Choice

A public school currently it pays all teachers the same, regardless of their area of expertise. At $70,000, it hires good teachers in all areas except science. Because science is a field in demand, the school can only hire poor science teachers. It would have to pay science teachers $90,000 to hire good science teachers. If one out of five teachers is a science teacher, what is the marginal expense of getting a good science teacher instead of a poor one?

• A) $90,000
• B) $100,000
• C) $20,000
• D) $450,000

Comprehend the dissolution of a partnership and its impact.

Understand the concept and importance of the accounting period in financial reporting.

Learn how adjusting entries affect income statement and balance sheet accounts and their role in the accrual basis of accounting.

Grasp the purpose and process of adjusting entries in recording internal transactions and events.

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Definitions:

Human Capital

The economic value of a worker's experience and skills, including education, training, intelligence, skills, health, and other things employers value in employees.

Tariffs

Tariffs are taxes imposed by a government on imported goods and services to protect domestic industries or to generate revenue.

Real GDP

Real GDP (Gross Domestic Product) measures the value of economic output adjusted for price changes, providing a more accurate reflection of an economy's size and how it's growing over time.

Growth Rate

The percentage increase in a country’s economic output or an individual company's earnings over a specific period, signaling economic health.