Category: Human Capital

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.

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

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

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. 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

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

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

A. regional variation
B. unionization
C. relative danger
D. skills

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

A. wage rate of capital
B. interest charges
C. marginal capital cost
D. rental rate for capital