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.Management Sciences
Category: Human Capital
The marginal revenue product of capital is the ?
A. change in a company’s balance sheet when it acquires new plant
B. additional value of output from using more capital
C. change in company’s share price
D. changing value of the capital stock
According to the human capital view of education ?
A. has no impact on the human capital of workers?
B. increases human capital and the wages of workers
C. can make any worker into a superstar
D. only helps firms sort workers into high ability and low-ability workers.
The participation rate in the labour force is affected by ?
A. higher real wages
B. lower fixed costs of working
C. lower non-labour income
D. changes in tastes between leisure and work
E. all of the above
Which of the following professionals is most likely to be able to generate the income of a superstar ?
A. the best professor
B. the best writer
C. All of these answers participate in markets that could generate a superstar
D. The best accountant
E. the best medical doctor
Top footballers tend to earn more than lecturers because ?
A. footballers give more entertainment
B. lecturers are lazy
C. the labor markets are imperfect
D. top footballers are relatively scarce in relation to lecturers
A wage differential among groups may not by itself be evidence of discrimination in the labour market because different groups have ?
A. different preferences for the type of work they are willing to do
B. different levels of job experience
C. all of these answers are correct
D. different levels of education
Skilled labor is relatively scarce because ?
A. there are too few teachers
B. too few student places in higher education
C. it is costly to acquire human capital
D. teachers’ salaries are too low
Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?
A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
B. increase in the number of unskilled workers available due to immigration into the UK.
C. decrease in the demand for unskilled workers are more poorly educated
D. increase in the number of unskilled workers available because workers are more poorly educated
The most important source of wage differentials are ?
A. regional variation
B. unionization
C. relative danger
D. skills
In order for a market to support superstars it must have which of the following characteristics ?
A. It must be involved in professional athletics
B. Every customer must be indifferent to the price they pay, and the seller must be a competitor in the market for the product
C. Every customer must be willing to pay an enormous amount for the product and the product must be a necessity
D. Every customer must want the good supplied by the best producer and the technology must exist for the best producer to supply every customer at low cost
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