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Which of the following is a distinction between general and specific human capital? A. General human capital consists of training and education that is valued by different firms, whereas specific human capital is more valuable to the current employer. B. General human capital enables workers to earn compensating wage differentials, whereas workers with specific human capital earn the competitive wage rate. C. General human capital leads to higher labor costs, whereas specific human capital leads to higher turnover costs. D. General human capital leads to self-selection on the basis of risk preference, whereas specific human capital leads to the adverse selection problem.
The gains from specific training in human capital tend to go to the: A. employing firm and not the individual. B. federal government in the form of higher taxes. C. individual and not the employing firm. D. parents since they paid for the education in the first place.
Investigate the Venezuelan economy. What is their current situation with price increases in that country? In other words, what is their inflation picture today? Explain some possible reasons for their situation.
Assume that N1 and N2 are neighbors and that N1 is relatively human and physical capital abundant while N2 is relatively labor abundant. Explain why. As a means for less developed countries to attract the savings and investment necessary for economic..
What are the major categories of “investment” expenditure in the GDP accounts? What are “transfer” expenditures of governments? Why aren’t they included as part of “government spending” in calculating GDP? Why aren’t “intermediate” goods purchases by..
The demand and supply equations for donuts are: Q = 160 – 4P and Q = -20 + 2P. Find the deadweight loss that would occur if a price ceiling of 22 were introduced. If scarcity was to disappear and donuts were free, how many donuts would people want?
Pat and Chris brew beer and make pizza. Pat takes 4 hours to brew a gallon of beer and 2 hours to make pizza. Chris takes 6 hours to brew a gallon of beer and 4 hours to make a pizza, what is each persons opportunity cost of making pizza?
A bright OU student plans to win first prize in the Ohio University Scripps Innovation Challenge that began Jan 17 and ends March 13. He will invest his $10,000 winnings in a friend’s 5-year-old startup company and expects to gain 10% interest per ye..
What rate of return would you expect on a 1 year treasury security, assuming the pure expectation theory is valid? use arithmetic average.
Find the monopolist's profit-maximizing output and price - calculate the monopolist's profit and what is the Lerner Index for this industry?
Illustrate what is economy's aggregate consumption function. Illustrate what is marginal propensity to consume for economy.
Suppose the economy is in a long-run equilibrium, as shown in the following graph. Now suppose that a stock market crash causes aggregate demand to fall. Use your diagram to show what happens to output and the price level in the short run.
First determine the tax issue. Then research the issue and determine your conclusion. Fred Fisher is a licensed scuba diver who lives in Key Largo. He is employed full-time as an engineer. Five years ago he had been employed as a professional diver ..
The steady state of the Solow growth model with exogenous technological progress and Cobb-Douoglas technology predicts that the real rental rate (ie: the price) of capital will not exhibit long run growth if the capital input market clearing conditio..
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