ECON 2D03 Lecture 3: Chapter 4 pt2
Document Summary
Global comparison of educational spending and literacy rates. Us gov"t spe(cid:374)di(cid:374)g o(cid:374) edu(cid:272)atio(cid:374: 5. 4% of gdp, less than many developed and underdeveloped countries. Adult literacy rate: an outcome of educational systems. Inputs into education: numbers of schools, dollar spent on education. Definition: the percent of 16-24 year olds who are not enrolled in school and havge not earned a high school degree. Low income families: 13: white-5%, african americans-7%, hispanic-14% Funding k-12 education: academic year 2005, billion, federal gov"t- very small share, lo(cid:272)al a(cid:374)d state gov"t (cid:271)ear the pri(cid:373)ar(cid:455) a(cid:374)d se(cid:272)o(cid:374)dar(cid:455) edu(cid:272)ation. Lo(cid:272)al gov"t spe(cid:374)di(cid:374)g o(cid:374) k-12 education: heavily financed by the local property tax. Tax base: value of income, earnings property, sales, or other variables to which a tac rate is applied. Tax rate: percentage of the tax base that must be paid to the gov"t as ta(cid:454) Inequities: state aid: aid to all, not only poor, school districts.
