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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![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.
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* 00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37e768c3-5bf3-4748-abc1-839e21ac0eb2%2F5924ce03-783b-49e0-85d7-40143f97e93b%2Fbtajeh_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
DII
DD
20
888
F10
F11
F6
F7
F8
F9
esc
F3
F4
F5
F1
F2
#
$
%
&
!
1
2
3
4
5
7
Q
W
E
R
T
tab
F
G
H.
K
А
caps lock
* 00
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