Economics of Education: Crash Course Economics #23

What is the concept of 'opportunity cost' as discussed in the video?

• The income from government bonds.

• The tuition fees for college.

• The total amount spent on education.

• The cost of the next best alternative foregone.

Tags

NGSS.HS-ESS3-2

According to the video, why do governments fund public education?

• To ensure every child gets a chance to be educated.

• To increase the country's debt.

• To reduce the number of schools.

• To privatize education completely.

How much did the US government spend on primary and secondary education in 2015?

• $250 billion

• $1 billion

• $500 million

• $634 billion

What is the 'College Wage Premium' as described in the video?

• The financial aid provided to students.

• The higher average income earned by college graduates compared to high school graduates.

• The cost of attending college.

• The amount of debt accumulated by students.

What theory suggests that college degrees serve as a signal to employers?

• Human Capital theory

• Resource Allocation theory

• Economic Investment theory

• Signalling theory

What is one reason for rising tuition costs mentioned in the video?

• Increased amenities and administrative costs.

• Decreased government funding alone.

• Reduction in teaching staff.

• Lower student enrollment rates.

What percentage of high school graduates enroll in college each year in the US?

• 75%

• 50%

• 60%

• 85%

What is the average debt amount borrowed by students in 2012?

• $27,000

• $10,000

• $15,000

• $35,000

What alternative paths to a four-year university are mentioned as potentially lucrative?

• Community college or apprenticeships

• Immediate full-time employment

• Investing in the stock market

• Starting a business without any education