Question: a) What do we know about the correlation between educational attainment and various labour market outcomes? Consider the following outcomes in turn: unemployment, labour force

a) What do we know about the correlation between educational attainment and various labour market outcomes? Consider the
following outcomes in turn: unemployment, labour force participation, and earnings.

b) Explain the concept of ‘ability bias’.

c) Discuss schooling as a signalling device.

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