Principles of Economics (Second Edition)
2nd Edition
ISBN: 9780393614077
Author: coppock, Lee; Mateer, Dirk
Publisher: W. W. Norton & Company
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Question
Chapter 24, Problem 2QFR
To determine
To explain:
The difference between human capital and workers available for work.
Expert Solution & Answer
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Check out a sample textbook solutionStudents have asked these similar questions
According to Charles Wheelan's Naked Economics, which of the below is NOT TRUE for human capital?
Group of answer choices
Human capital increases productivity.
Human capital makes for healthier people.
Human capital increases earning potential of workers.
Human capital increases the cost of labor and makes a nation less competitive globally.
Human capital makes for better parents.
According to Charles Wheelan's Naked Economics, which of the below is NOT TRUE for human capital?
Group of answer choices:
a. Human capital increases productivity.
b. Human capital makes for healthier people.
c. Human capital increases earning potential of workers.
d. Human capital increases the cost of labor and makes a nation less competitive globally.
e. Human capital makes for better parents.
What determines how productive workers are? How do gains in labor productivity lead to gains in GDP per capita?
Chapter 24 Solutions
Principles of Economics (Second Edition)
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Similar questions
- Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?arrow_forwardWhat is the difference between labor and human capital? How can human capital be increased?arrow_forwardWhich one of the following is not a determinant of productivity? A greater stock of labor. More human capital per worker. More physical capital per worker. Technological advancement. All of the answers are determinants of productivity.arrow_forward
- An increase in labor productivity means businesses will produce more output with the same amount of labor. Explainarrow_forwardWhy don’t wages measure the full return to labor? Why is human capital the most important factor of production in a modern economy?arrow_forwardQ) The economist of country A is considering the following list of policies. For each of the following policies, determine which factor of growth that the policy is related to((1) natural resources; (2) physical capital; (3) human capital; (4) technology; or(5) institutions): a) Government allows more workers to immigrate b) Government relaxes the regulations for firms to borrow c) Government lends money to farmers to buy machines. d) Government plants more trees to protect the environment. e)Government encourages citizens to vote Solve this earlyarrow_forward
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