Answered: Which of the following is an investment…

Which of the following is an investment in human capl O A firm engages in on-the-job training. O An individual decides to enroll in a vocational training program.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: c. A software developer produces software programs (one unit of output) which produce revenue of…

A: Profit maximization is the process where a company determines the price and quantity of goods or…

Q: 3. Describe any five important differences between the labour market and the goods market.

A: Labour Market: A labour market is a place where labour and organization meet for achieving…

Q: Is it rational for a firm to hire the 3rd worker? Why and Why not? Is it rational for a firm to hire…

A: This table shows that firm has the production function which exhibits the LAW of Variable proportion…

Q: What is a good example of the effect of human capital on income? O A Workers who learn to make high…

A: Human capital includes skills, education, and knowledge that adds up to giving value to the company…

Q: 230 -Budget Line --0-11 12 210 200 190 180 170 160 150 140 130 ho 100 90 60 50 40 30 10 10 15 20…

A: Maximum Units of consumption = Income/Price = wage*Hours worked/Price= 14*H/1 = 14H 225 = 14 H […

Q: ould be the substitution effect and the income effect of a wage change?

A: Indifference curve analysis could be used for explaining of choice of an individual between income…

Q: S Consider the following figure: WEI WH E₁₁ WL WF2 E DL A' T' When the wage continues to fall below…

A: Detailed The summit at which both adults and a few children are required to work in order to keep up…

Q: You just got a job in Washington, D.C. You move into an apartment with some acquaintances. All your…

A: Trade between two countries is done when one country is advantageous in the production of a certain…

Q: 74 Unit 11.2 Growing the Economy 1. Unit 11.2 Activity 1B: Physical and mental labour Discuss the…

A: Mental labor is that work in which the brain is applied for the execution of the work. Mental…

Q: 6. Assume you can work as many hours you wish at £12 per hour (net of tax). If you do not work you…

A: The purpose of this question is to explain the consumption leisure trade off to answer this…

Q: In this country, million people are unemployed, and the unemployment rate is %. (Round your…

A: Answer: Note: We are not allowed to provide handwritten solutions Unemployed: people who are…

Q: A job is a contract between a OA. bank; household; capital OB. manufacturer; retailer;…

A: The different factors of production include capital, land, labour, and entrepreneurs. These are…

Q: Question 4 Andrea Mowry is a knitwear designer, and she has a firm DreaReneeKnits. She uses knitters…

A: The law of declining marginal returns is an economic science theory that states that when an exact…

Q: Assuming that firm x produce lotion. After a few months of being in business there is a significant…

A: lotion produced by firm X is a final product which is demanded to satisfy need of the final…

Q: Using natural experiments to evaluate the causal effect of immigration on local labor markets is…

A: Answer is option (D) Reasons- The biggest disadvantage of immigration generated through massive…

Q: When analyzing labor supply decisions, nonlabor income is part of the consumer's budget constraint.…

A: In the labor market, an individual or a household act as a supplier because he will supply labor to…

Q: 1. Given the graph below, would Amy enter the LF? What is her reservation wage? MG) 30 Hours of NMT…

A: Reservation wage is defined as the minimum or the lowest wage rate that a worker is willing to…

Q: What is Labor Economics?

A: Economics is mainly divided into micro economics and macro economics. In addition to that the…

Q: Name Gender Paolo M Ginny F Lucia Eric Kenji Sharon Paolo Carlos Van Amy Η ΣΣΕ ΣΣΣ M M M M M F…

A: To profit, employers must keep a few things in mind while setting the wage rate. They must not set…

Q: he backward-bending supply curve for låbóur cists- ) Only in inflationary conditions ) Wherever…

A: According to the given question The supply curve is actually in simple words we can say that the…

Q: Paragraph Font Consider an individual who initially works T-L. hours per week, where (T-L)>0. They…

A: The labor supply curve is the curve that shows the level of labor that would be supplied in the…

Q: $5 W 0 Single Firm ic 5 Employment Multiple Choice is Oabc. is OWbc. Wage Rate Refer to the…

A: The wage rate in perfectly competitive labor market will be measured in the industry instead of the…

Q: Who has given the concept of wage fund theory? a) J.S. Mill b) Marshall c) Ricardion d) Jevons

A: Scholars in economics have offered varied insights. Adam Smith's "The Wealth of Nations" laid…

Q: Education is related to income, in general. O True O False

A: Education is referred to as the process of gaining knowledge through either an organisation or by…

Q: A series of questions will rely on the following information describing Susan's decisions over…

A: The labor-leisure trade-off is faced by wage-earning individual who faces the trade-off between the…

Q: Why culture Ma

A: Culture is the entirety of our way of life and character. Initially is can be said that, culture is…

Q: Below is a chart showing the Labor Force Participation rate for 15-64 year olds in the U.S. vs.…

A: Real GDP is the product of base year price and current year output level during an year. It is the…

Q: Q50 Justin Trudeau, who owns a barbershop in Ottawa, charges $8 per haircut. By hiring one barber…

A: The formula:Marginal product =Change in total productMPL(2)=42-22=20MRPL=MPL* priceMRPL(2)=20*8=$160

Q: The output of bakers at The Cheesecake Palace depends on the number of bakers employed. The factory…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: It Is profitable to hire labor so long as the: MPL is greater than wage b. MPL is less than wage VMP…

A: Marginal product of labor is the change in the output or increase in production when an additional…

Q: Let's say you stay in Blacksburg over the summer and work for S10/hr. Once classes start in the…

A: The next best alternative is frequently referred to as opportunity cost. It is the cost associated…

Q: The population of Ectenia rs 100 people: 40 workfull-time. 20 work hal f-time but would orefer to…

A: Unemployment is a phrase that refers to those who are employable and actively looking for work but…

Q: Illustrate and explain the impact of a minium wage on the labour market

A: The minimum wage rate or the wage floor is a concept where the government authority fix is the…

Q: Define the term autarky in the economy. Note i need a plagiarism free ans.

A: In terms of economics, autarky describes a situation in which a nation or area lacks reliance on…

Q: Who has given the concept of wage fund theory? a) J.S. Mill b) Marshall c) Ricardion d)…

A: The Wage Fund Theory is an important concept in the field of classical economics, particularly in…

Q: Explain labour economics?

A: The social science that studies the behavior of individuals, businesses, societies, and governments,…

Q: Asthebabyboomergenerationretires,whatshould happen to wages and employment? Can you show this…

A: Meaning of Boom in Business Cycle: The term boom in the business cycle refers to the situation…

Q: 3.3 W W Given the figure below, answer the questions in the table. MWC 5-AWC X Q 0₂ 0₂ Quantity of…

A: "Since you have asked multiple questions, we will solve the first three questions for you. If you…

Q: Justin Trudeau, who owns a barbershop in Ottawa, charges $8 per haircut. By hiring one barber named…

Question

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.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

O A. II, Guaranteed Basic Income OB. IV, Wage Subsidy OC. II, Guaranteed Basic Income O D. II, Earned Income Tax Credit
Consider an individual who must drive to his place of work. Assume that there are 16 available hours in the day, that his wage rate is $20 per hour, and that he has nonlabour income of $100 per day. The commute takes one hour each day and it costs $40 in expenses for the round trip. Using a work-eisure diagram, depict his labour supply choice, including his reservation wage. Analyze the impact of an increase in commuting costs on his participation and hours decision. Analyze the impact, first of an increase in commuting time from two to four hours per day, and, second, of an increase in driving expenses from $40 to $60 per round trip, keeing commuting time at two hours. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Bofore starring in Guardans of the Galary, Chris Pratt had appeared in 11 movies that grossed an average of $7 milion on the opening weekend. Guardians of the Galaxy grossed $04 million. The success of Guardians of the Galaxy the opportunity cost of hiring Chris Pratt Movie producers now have incentive to hire Chris Pratt. 59 OA decreases, more OB. increases: less OC decreases, less OD. increases more
In calelting the unemplament . "di d worke whearettity seeking employmet are 22 ta cluded. e incaded. e treated the s partti worker. di ed t determine the sie of the laber force
w ouseunus varI EUITE wrien purchase in factor markets. rirms factors Suppose Eleanor earns $550 per week working as a corporate attorney for Rowan and Martin Associates. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Darnell $400 per week to wash cars. Darnell uses $375 to purchase legal service from Rowan and Martin Associates, Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Eleanor earns $s50 per week working for Rowan and Martin Associates. Darnell spends $375 to purchase legal service from Rowan and Martin Associates, Eleanor spends $10 to gether car washed. olo
8. Suppose the computer industry receives an initial extra income for $100. Think about the multiplier process in the first round. ii). How much income will local workers receive? O. $20 O. $25 0. $45 O. $55
Why do employers need to take the product market and labour market into accountwhile deciding the pay level? What is ‘pay level’?
For any given job, how do the economy-wide labour market conditions affect aworker’s bargaining power? Explain which labour market variable you would look at toassess labour market conditions.
It Is profitable to hlre labor so long as the: a. MP is greater than wage b. MP is less than wage C. VMP is less than wage d. VMP is greater than wage.