Exploring Economics
8th Edition
ISBN: 9781544336329
Author: Robert L. Sexton
Publisher: SAGE Publications, Inc
expand_more
expand_more
format_list_bulleted
Question
Chapter 20, Problem 7P
To determine
To explain:
The difference between labor and human capital and the way human capital can be increased.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
What is the difference between labor and human capital? How can human capital be increased?
What are the two main factors that affect labor productivity?
Why don’t wages measure the full return to labor? Why is human capital the most important factor of production in a modern economy?
Knowledge Booster
Similar questions
- How is it possible for labor productivity to increase if output is falling?arrow_forwardWhat is productivity? Describe the factors of productivity. Answer must be correct. Answer Briefly.arrow_forwardis it true labor productivity is the activity measures output per labor hour per employee?arrow_forward
- Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?arrow_forward"Schumacher agrees with Adam Smith's claim that a division of labor is beneficial to workers." True or Falsearrow_forwardDefine the term labor productivity?arrow_forward
- Fishyland is a small country that focuses on her fishing industry. She has a production function of Y = 60L0.4K 0.6 . where L is labour and K is capital. a. Calculate the real wage rate of labor. b. Suppose the World Bank grants more fishing tools to Fishyland. From the answer in (a), will a typical labor in Fishyland benefit from this? Explain.arrow_forwardMarx writes that “labour itself, … insofar as its purpose in general is the mere increase of wealth … is harmful and pernicious.” What does he mean by that?arrow_forwardWhat were the broad differences in the balance of power between capital and labor in the US and Canada in the 1930s and in the 1980s?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Microeconomics (MindTap Course List)EconomicsISBN:9781305971493Author:N. Gregory MankiwPublisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:Cengage Learning