Explain how an increase in human capital changes labor productivity. Do diminishing returns arise?Real GDP per hour of labor (2012 dollars)32-Provide an example of an increase in human capital.28-An increase in human capitallabor productivity andthe diminishing returns to capital.24-O A. decreases; does not eliminateO B. increases; eliminates20-O C. increases; sometimes eliminates and sometimes does not eliminate16-O D. increases; does not eliminate12-E. decreases; eliminates8-An example of an increase in human capital is4-O A. attending collegeOB. your labor productivity increases400.80120160200240Capital per hour of labor (2012 dollars)O C. you work more hours at your part-time jobD. your college buys more computers>>> Draw only the objects specified in the question.In the graph, draw a productivity curve. Label it PCo.Draw a point to show real GDP per hour of labor when capital per hour of labor is $120. Label it 1.Then illustrate the effect of an increase in human capital.Draw either a new productivity curve labeled PC, or an arrow along the curve showing the direction of change.Click the graph, choose a tool in the palette and follow the instructions to create your graph.MacBook AirDIIDD20888F10F11F6F7F8F9escF3F4F5F1F2#$%&!123457QWERTtabFGH.KАcaps lock* 00

An increase in human capital increases labor productivity and does not eliminate the diminishing…

Provide an example of an increase in human capital. An increase in human capital labor productivity and the diminishing returns to O A. decreases; does not eliminate B. increases; eliminates C. increases; sometimes eliminates and sometimes does not eliminate D. increases; does not eliminate E. decreases; eliminates An example of an increase in human capital is

Provide an example of an increase in human capital. An increase in human capital labor productivity and the diminishing returns to O A. decreases; does not eliminate B. increases; eliminates C. increases; sometimes eliminates and sometimes does not eliminate D. increases; does not eliminate E. decreases; eliminates An example of an increase in human capital is

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Chapter1: Making Economics Decisions

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Question

Explain how an increase in human capital changes labor productivity. Do diminishing returns arise?
Real GDP per hour of labor (2012 dollars)
32-
Provide an example of an increase in human capital.
28-
An increase in human capital
labor productivity and
the diminishing returns to capital.
24-
O A. decreases; does not eliminate
O B. increases; eliminates
20-
O C. increases; sometimes eliminates and sometimes does not eliminate
16-
O D. increases; does not eliminate
12-
E. decreases; eliminates
8-
An example of an increase in human capital is
4-
O A. attending college
OB. your labor productivity increases
40
0.
80
120
160
200
240
Capital per hour of labor (2012 dollars)
O C. you work more hours at your part-time job
D. your college buys more computers
>>> Draw only the objects specified in the question.
In the graph, draw a productivity curve. Label it PCo.
Draw a point to show real GDP per hour of labor when capital per hour of labor is $120. Label it 1.
Then illustrate the effect of an increase in human capital.
Draw either a new productivity curve labeled PC, or an arrow along the curve showing the direction of change.
Click the graph, choose a tool in the palette and follow the instructions to create your graph.
MacBook Air
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F1
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1
2
3
4
5
7
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tab
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* 00

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