![Bundle: Exploring Macroeconomics, Loose-leaf Version, 7th + LMS Integrated MindTap Economics, 1 term (6 months) Printed Access Card](https://www.bartleby.com/isbn_cover_images/9781305784802/9781305784802_largeCoverImage.gif)
Bundle: Exploring Macroeconomics, Loose-leaf Version, 7th + LMS Integrated MindTap Economics, 1 term (6 months) Printed Access Card
7th Edition
ISBN: 9781305784802
Author: Robert L. Sexton
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 12, Problem 7P
To determine
To explain:
The difference between labor and human capital and the way human capital can be increased.
Expert Solution & Answer
![Check Mark](/static/check-mark.png)
Trending nowThis is a popular solution!
![Blurred answer](/static/blurred-answer.jpg)
Students have asked these similar questions
What is the difference between labor and human capital? How can human capital be increased?
What are the two main factors that affect labor productivity?
How is it possible for labor productivity to increase if output is falling?
Chapter 12 Solutions
Bundle: Exploring Macroeconomics, Loose-leaf Version, 7th + LMS Integrated MindTap Economics, 1 term (6 months) Printed Access Card
Knowledge Booster
Similar questions
- Explain the opportunity cost of investing in capital. Is there any difference in the opportunity cost of investing in human capital versus physical capital?arrow_forwardWhat is the opportunity cost of investing in a physical capital?arrow_forwardWhat is the difference between Karl Max and Adam Smith in term of division of labour?arrow_forward
- kinda elaborate further on LABOUR SKILLS as a factor firms should consider when deciding to invest in a countryarrow_forwarda. What does the expression “marginal product of labour” mean? b. Why do workers (skilled and unskilled) migrate from labour abundant countries to countries with a scarcity of labour? c. How has that migration of labour been of advantage to other countries?arrow_forwardWhat are the three factors that impact productivity? Provide an example for each factor describing how productivity is impacted.arrow_forward
- What is the importance of mobility of factors of production towards productionarrow_forwardThe source mentions a fourth factor of production: entrepreneurship. In what sense could it be viewed as a production factorarrow_forwardWhat is the relationship between average production and managerial production?arrow_forward
- Write the production function in its simplest form (human capital being included in TFP) and explain the nature of each factor of production.arrow_forwardGive Some examples of different types of productivity measures?arrow_forwardWhich of the following is an example of capital as a factor of production? Group of answer choices Stocks Bonds money Equipment used by businessesarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, IncEconomics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
- Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage LearningPrinciples of Microeconomics (MindTap Course List)EconomicsISBN:9781305971493Author:N. Gregory MankiwPublisher:Cengage LearningPrinciples of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781544336329/9781544336329_smallCoverImage.jpg)
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337617390/9781337617390_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337617383/9781337617383_smallCoverImage.gif)
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305971493/9781305971493_smallCoverImage.gif)
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning