What is meant by investment in human capital? Use this concept to explain (a) wage differentials and (b) the long-run rise of real wage rates in the United States.

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter13: Earnings, Productivity, And The Job Market
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What is meant by investment in human capital? Use this concept to explain (a) wage differentials and (b) the long-run rise of real wage rates in the United States.

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