According to the signaling theory of education, Education and training do not contribute directly to productivity, but
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According to the signaling theory of education,
Education and training do not contribute directly to productivity, but act as a filter to screen candidates.
The level of education or training directly measures the productivity of the worker.
Education and training function as utility-generating goods from the worker's perspective.
The level of education or training of one worker affects the productivity of her coworkers.
The social rate of return to education is greater than the private rate of return.
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