By intent, education increases the productivity of labor. Suppose a country institutes effective public education so that the literacy and numerous rates within the country increase dramatically.Thinking only in terms of a single firm’s situation, discuss the consequences for the firm’s hiring decisions. In the general labor market, discuss the consequences of effective consequences and how they feedback into firm decisions.Can you answer this question as short as possible and to the main point please?

The total volume of output (measured in terms of Gross Domestic Product, GDP) made per unit of…

Answered: By intent, education increases the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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By intent, education increases the productivity of labor. Suppose a country institutes effective public education so that the literacy and numerous rates within the country increase dramatically.
1. Thinking only in terms of a single firm’s situation, discuss the consequences for the firm’s hiring decisions.
2. In the general labor market, discuss the consequences of effective consequences and how they feedback into firm decisions.

Can you answer this question as short as possible and to the main point please?

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