Suppose the government undertakes a large spending program to build community colleges and to make higher education free for many low-income families. How would you expect the program to affect output in the short run? Assuming that the succeeds in increasing the skills of some workers, how would you expect it to output program in the long run?

Suppose the government undertakes a large spending program to build community colleges and to make higher education free for many low-income families. How would you expect the program to affect output in the short run? Assuming that the succeeds in increasing the skills of some workers, how would you expect it to output program in the long run?

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter19: Labor And Entrepreneurship: The Human Inputs

Section: Chapter Questions

Problem 3DQ

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Question

Suppose the government undertakes a large spending program to build community
colleges and to make higher education free for many low-income families. How would
you expect the program to affect output in the short run? Assuming that the program
succeeds in increasing the skills of some workers, how would you expect it to output
in the long run?

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