If Education Reform Leads to a More Skilled and Better

question 139

Multiple Choice

If education reform leads to a more skilled and better trained public, the economy would experience

• A)an increase in human capital.
• B)an increase in the supply of labour.
• C)an increase in comparable worth.
• D)a decrease in compensating differentials.

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Definitions:

Testamentary Trust

A trust created by a will that becomes effective upon the death of the person who created it.

Settlor's Death

The event of the death of an individual who has established a trust, potentially triggering changes in the management or distribution of the trust's assets.

Spendthrift Trust

A type of trust that is created to prevent the beneficiary's assets from being squandered or from being claimed by creditors by providing restricted access to the trust assets.

Personal Representative

An individual appointed to administer the estate of a deceased person.