ECON 2D03 Lecture Notes - Lecture 3: Opportunity Cost, School Voucher, Endangerment
8 Dec 2017
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Justify gov"s provision of k-12 education and subsidization of college. Socially optimum amount of education is achieved if . Gov"s contribution toward student education is just equal to spill over: grants and financial aid, public colleges and universities benefits that society receives from education education. Percent of 16-24 year olds who are not enrolled in school and have not earned a high school degree. Local and state gov bear principal burden for funding primary and secondary education. Heavily financed by local property tax: inequities, state aid: aid to all not only poor school districts. Low spending: shoddy facilities, inadequate supplies, understaffed classrooms, high dropout rates and functional illiteracy. Tax base: value of income, earnings, property sales or other variables to which ta rate is applied. Tax rate: percentage of tax base that must be paid to the gov as tax. White female students scored higher in reading than males in all groups.
