1) Decisions by individuals to build human capital through educational investmen

Question

1) Decisions by individuals to build human capital through educational investments depend upon:

a)

b)

c)

d)

All of the above are correct.

2) Lightsabers are the primary weapon used by the Jedi. Suppose that at the current production levels, the marginal social benefit of lightsabers is $5000, the marginal private benefit of lightsabers is $4000, and the marginal private and marginal social cost of lightsabers is $4000. From a social efficiency standpoint, Jedi officials should:

a)

b)

c)

d)

3) Lightsabers are the primary weapon used by the Jedi. Suppose that at the current production levels, the marginal social benefit of lightsabers is $5000, the marginal private benefit of lightsabers is $4000, and the marginal private and marginal social cost of lightsabers is $4000. Based on this information

a)

b)

c)

d)

I think the answers are d, c, and a but I'm not sure. Please help/ check my answers.  

a)

the marginal benefits of education to that individual.

b)

the marginal costs of education to that individual.

c)

an individual’s discount rate.

d)

All of the above are correct.

Explanation / Answer

1. The right answer is option d. All the above are correct.

Explanation: One will compare the marginal benefit as well as the marginal cost of education to make rational investment decisions in education. Moreover, a person will use the discount rate to compare the future returns with the current investment to find out the net present value of investing in education.  

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