Answered: Suppose that college tuition is…

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

ChapterST1: Government Spending And Taxation

Section: Chapter Questions

Problem 2CQ

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Question

Suppose that college tuition is eliminated for every admitted student to a public community college or a public 4‑year college or university.

a. Such a policy would likely lead to

a.a decrease in human capital, conferring a cost

b.an increase in human capital, conferring a benefit

b. Such a policy would also lead to

a.lower taxes, conferring a benefit

b.higher taxes, conferring a cost

c. Such a policy would also lead to a

a.rise

b.fall

in enrollment at private colleges and universities.

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Introduction

Learning, knowledge and education are what makes the labor, convert into human capital. And it is human capital, that enables long run growth in the economy.

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