What is a good example of the effect of human capital on income? O A Workers who learn to make high demand products are well-paid O B. Only job applicants with high school diplomas get interviews O C. Employees who learn to perform high risk jobs always get paid more O D. People with college degrees usually earn more than those with less education

What is a good example of the effect of human capital on income? O A Workers who learn to make high demand products are well-paid O B. Only job applicants with high school diplomas get interviews O C. Employees who learn to perform high risk jobs always get paid more O D. People with college degrees usually earn more than those with less education

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.8P

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Similar questions

Does a gap between the average earnings of men and women, or between whites and blacks, prove that employers are discriminating in the labor market? Explain briefly.
Other than the demand for labor, what would be another example of a 'derived demand?
What is die price commonly called in the labor market?
Will a free market tend to encourage or discourage discrimination? Explain briefly.
which seems to be correct?
Will discriminatory wage differentials persist or are they temporary? OA. If discrimination is due to government laws or the preferences of consumers, then the wage differentials will be permanent for as long as those laws or preferences persist. OB. If discrimination is due to government laws or the preferences of consumers, then the wage differentials will be temporary OC. If discrimination is due to government laws, then the wage differentials will be temporary. If discrimination is due to the preferences of consumers, then the wage differentials will be permanent for as long as those preferences persist. OD. If discrimination is due to government laws, then the wage differentials will be permanent for as long as those laws persist. If discrimination is due to the preferences of consumers, then the wage differentials will be temporary.
When a firm provides specific training, what happens to the gap between the post-training wage and the marginal product as the market interest rate decreases? O a. It persists for a longer period of time. O b. It increases. O c. It stays the same. O d. It decreases.
what factor determine movement along demand curve for labour and increase or decrease in it? why theory of distribution is special case of the theory of pricee?
Which of the following is not an explanation for the wage gap between workers with college education and workers without college education? O a. Workers with higher education have more human capital. O b. Unproductive workers are more likely to get a college degree. O. Workers use education as a signal. O d. Employers use education as a screening mechanism. In the short-run, the supply of high-skill workers is inelastic because O a. it takes time to develop human capital. education is costly. Oc. the wage premium is too low. Od. in the long-run, all workers can obtain the necessary skills.
Attributing the gender wage gap to ongoing discrimination by employers will likely be incorrect because O a. some of the wage gap is explained by efficiency wages. b. differences in years of work experience likely lead to productivity differences between men and women. O c. compensating differentials usually lead to higher wages for women. Od. All of the above are correct.
E2
Leadbelly Co. sells pencils in a perfectly competitiveproduct market and hires workers in a perfectly compel·ilive labor market. Assume tha t the market wage ra le forworkers is $150 per day.a. What rule should Leadbcily follow to hire theprofit-maximizing ammmt ol labor?b. Al the profit-maximizing level of output, the marginal product of the last worker hirro is 30 boxesof pencils per day. Calculate the price of a box ofpencils.c. Draw a diagram of the labor market fo r pencil wo.rkers (as in Figure 4 ol this chapter) next to a diagramof the labor supply and demand for Leadbelly Co. (asin Figure 3). Label the equilibrium wage and quanti tyof labor lor both the market and the lirm. How arethese d iagrams related?d. Suppose some pencil workers switch to jobs in thegrowing computer industry. On the sidc,-by-5idediagrams from part (c), show how this changeaffects the equilibrium wage and quantity o( laborlor both the pencil market and lor Leadbelly. Howdocs this change affect the marginal…