Education's Effect on Productivity

question 115

Multiple Choice

Education's effect on productivity:

• A) is believed to be less important than the amount of physical capital a worker has available.
• B) is even more important than increases in physical capital.
• C) has fallen in the past century in Canada.
• D) depends on the wealth of the country.

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Definitions:

Internalize External Costs

The process of accounting for the environmental and societal costs of economic activities in the price of goods and services.

Tradable Pollution Rights

An economic strategy for pollution control that rewards the decrease in pollutant discharges through financial incentives.

User Fees

Charges levied for the use of a service or facility, typically implemented to fund the maintenance and operation of the services provided.

Environmental Regulation

Laws and rules developed to protect the environment from pollutants and to manage natural resources sustainably.