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14 Cards in this Set
- Front
- Back
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schools that are financed by tax revenues and operated by the government
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public schools
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schools that are financed by tax revenues and operated by the government
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public schools
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schools that are not operated by the government and are mainly financed by student tuition
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private schools
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positive externality in which benefits are shifted from the provate market to society
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spillover benefit
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benefits or costs of an economic activity that spill over to the rest of society
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externalities
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negative externatlity in which costs are shifted from the private market to society
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spillover cost
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value of income, earnings, property, sales, or other variables to which as tax rate is applied
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tax base
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percentage of the tax base that must be paid to the fovernmnet as tax
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tax rate
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pay part of the cost
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subsidize
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income-earning investments of a school
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endowments
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the theory that people invest in education in the same way that businesses invest in machines, by calculating the investment's return, or profit rate
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investment-in-human-capital theory
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profit rate computed by dividing profit by investment
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rate of return
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a maximum limit on the number of students allowed to enroll in a school
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enrollment caps
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monies authorized by a legislative body to be spent for certain purposes
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appropriations
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