1- An employee gains work experience by staying in a job for a long period of time. This will ________ a worker’s human capital and lead to ________ wages. not change; stable increase; lower decrease; lower increase; higher decrease; higher 2- Low-probability events are often ________, and high-probability events are often ________. overanticipated; unanticipated overanticipated; underanticipated unanticipated; overanticipated underanticipated; overanticipated underanticipated; unanticipated 3- More important than total expenditure is the _________ delivery of health care. unregulated efficient diminishing unrationed asymmetric

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Answered: 1- An employee gains work experience by…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1- An employee gains work experience by staying in a job for a long period of time. This will ________ a worker’s human capital and lead to ________ wages.

not change; stable
increase; lower
decrease; lower
increase; higher
decrease; higher

2- Low-probability events are often ________, and high-probability events are often ________.
1. overanticipated; unanticipated
2. overanticipated; underanticipated
3. unanticipated; overanticipated
4. underanticipated; overanticipated
5. underanticipated; unanticipated
  
  3- More important than total expenditure is the _________ delivery of health care.
  
  unregulated
  
  efficient
  
  diminishing
  
  unrationed
  
  asymmetric

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