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N1 If obtaining degrees is costly in terms of social resources and does not improve productivity but only redistributes income to high-ability workers, then it
N1
If obtaining degrees is costly in terms of social resources and does not improve productivity but only redistributes income to high-ability workers, then it is an example of
a.)unproductive signalling.
b.)labour market equilibrium.
c.)optimal signalling
d.) a pooling equilibrium.
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