Category: Human Capital

A. increase the wage, increase employment
B. maintain the wage, increase employment
C. increase the wage, lower employment
D. maintain the wage, lower employment

A. education
B. experience
C. all of these answers are parts of a worker’s human capital
D. effort
E. on the job training

A. wage differentials, skill levels
B. technology, the ease of factor substitution
C. government grants, international competition
D. patents, skill shortages

A. The existence of a wage differential among groups is strong evidence of discrimination in the labour market
B. Discrimination can only persist in a competitive labour market it customers are willing to pay to maintain the discriminatory practice or the government requires discrimination
C. Bigoted employers are the main source of a persistent discriminatory wage differential in a competitive market
D. Discrimination cannot exist in a competitive labor market

A. the tools used by workers to enhance productivity
B. a person inherited ability
C. the stock of expertise accumulated by a worker
D. education

A. marginal revenue, marginal cost
B. long run marginal revenue, long run marginal cost
C. labor output ratio, capital output ratio
D. marginal cost of labor, marginal revenue product

A. unpleasant
B. all these answers
C. safe
D. fun
E. easy

A. low wages, employment
B. high wages, labor supply
C. high wages, productivity
D. high wages, employment

A. they tend to work in relatively unskilled jobs
B. educational disadvantage
C. firms are reluctant to invest in training
D. all of the above

A. depreciation of the existing capital stock
B. productive investment
C. dwellings
D. inventories