b. The concept of human capital investment explains wage differentials because investment in human capital O determines wages. O is measured at a point in time. O enables a worker to build specialized skills that have additional wage value in the labor market. O is a tax-deductible increase in the real value of the wage. c. The long-run rise in real-wage rates in the United States O is indirectly related to investments in human capital and improved labor force skills. O is directly related to investments in human capital and improved labor force skills. O is directly related to higher price levels and improved labor force skills. O cannot be explained by any specific set of factors.

b. The concept of human capital investment explains wage differentials because investment in human capital O determines wages. O is measured at a point in time. O enables a worker to build specialized skills that have additional wage value in the labor market. O is a tax-deductible increase in the real value of the wage. c. The long-run rise in real-wage rates in the United States O is indirectly related to investments in human capital and improved labor force skills. O is directly related to investments in human capital and improved labor force skills. O is directly related to higher price levels and improved labor force skills. O cannot be explained by any specific set of factors.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 11RQ: If you an? out of school but working part time, are you considered employed or unemployed in U.S....

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