The Economist article on human capital says that human capital theory tries to answer which of thefollowing questions?Why has each new generation spent more time in school than the one that came before?Human capital theory tries to answer all of these questions.O Why should universities charge tuition fees?Why have earnings of highly skilled workers risen even as their numbers have also increased?DQuestion 4The Philips reading says thatO human capital theory replaces rational expectations theoryO human capital theory is an extension of the Ricardian theory of rentO human capital is a central neoclassical economic theory attempting to explain why people receive the wagesthat they do.all of these answers are correctmany economists today reject human capital theory because of the effects of the Great Recession on thelabor markethuman capital theory can now be used to explain the market failures associated with global warming

The human capital theory places that human creatures can expand their useful limit through more…

Answered: The Economist article on human capital…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that a person's life is divided into two periods. A period of poor economic times, when this person earns $28 per hour of work, and a period of good economic times when they earn $42 per hour. The person cannot work more than 2000 hours in a single period, but they want to earn $107,000 total across both periods. What is the minimum number of hours this person needs to work total? Round your answer to two decimal places. Then take a second and thing about what is happening to GDP in each time period and connect the dots to Real Business Cycle Theory.
The Economist article, Left in the Lurch, notes that throughout history many places that have experienced economic hardships have seen their residents leave. But, it notes that such "mobility" by workers from such places is _______ in the U.S. today. Part of this dynamic reflects policies that ______ population growth in more thriving communities (and thus make it more difficult for workers to relocate). Another part of this dynamic reflects public policies that often ______ the incentive to move. Choose the correct combination from the choices below. a. decreasing; enhance; increase b. increasing; restrict; reduce c. decreasing; restrict; reduce d. increasing; enhance; reduce
The graphs below show demand for labor in two countries, A and B, and several vertical labor supply curves. Use these diagrams to answer the question about the effects of migration from one country to the other in search of a higher wage. Let the amount of migration (change in labor supply) be equal to the (identical) horizontal distance between the supply curves in both graphs. Country B Country A Se SB WB SA SA WA d PB h b a DA LB LA What is the effect of this migration on the welfare of workers who migrate? They gain area g They gain area (g+h+e) They gain area (a+b+c). O They gain area (g+h)
Which one of these individuals is a part of the eligible population, but NOT part of the labor force? Select one: a. A 19 years old who is working part time in a beauty salon b. A 22 years old who is looking for a job after graduating from college but cannot find one c. A 33 years old who stays at home to take care of his kids d. A 42 years old who works in jail after committing grand larceny e. A 75 years who is still working full time as an attorney
Women’s rising labor force participation might either increase or reduce marriage rates. Explain why the effect could go either way.
21. It takes y* years to graduate from college. For workers in Group A (high-skill workers) the cost of going to college is $5,000 per year (CA=5,000y). For workers in Group B (low-skill workers) the cost of going to college is $10,000 per year (CB=10,000y). Employers cannot observe the skill of job candidates, but they can observe whether or not they graduated from college. Employees will be offered $60,000 if they graduate from college, and they will be offered $30,000 if they do not have a college degree. In equilibrium, a college degree can be used as a signal of the worker's type if a. 4
Suppose the following graph shows the earnings trajectory of college-educated workers (orange line) and of workers with only a high school diploma (blue line), through age 34. Use the grey quadrilateral (star symbols) to shade the area representing the direct costs of attending college for four years. Then use the purple quadrilateral (diamond symbols) to shade the area representing the opportunity cost of attending college for four years rather than entering the work force immediately after completing high school. Finally, use the green quadrilateral (triangle symbols) to shade the area representing the difference in earnings between college graduates and high school graduates between the ages of 22 and 34. Hint: Be sure that the coordinates of the end points of the quadrilaterals are exactly the same as the coordinates of the areas they are to cover. Once the quadrilateral is in place, click on it to show the value of the shaded area. EARNINGS AND COST (Thousands of dollars) 100 8 60…
Explain the opportunity cost of investing in capital. Is there any difference in the opportunity cost of investing in human capital versus physical capital?
Based on the graph below, how many workers would the firm hire and at what wage? A. 50 workers at $8 B. 50 workers at $18 C. 80 workers at $8 D. 80 workers at $13 E. 80 workers at $18
Which of the following is an investment in human capital? O A firm engages in on-the-job training. O An individual decides to enroll in a vocational training program. O All of the answers. O The government expands its programs to improve health care.
Summarize changes to the distribution of income since 1980. Is is analysis positive or normative? Why?
Which of the following groups has the fastest-growing population in the United States? a. Households headed by female members b. Households headed by married couples c. Households headed by male members d. Households headed by Hispanics e. Households headed by African Americans

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