LABOR ECONOMICS
8th Edition
ISBN: 9781260004724
Author: BORJAS
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 7, Problem 1RQ
To determine
The difference between and the effects of general training and specific training.
Expert Solution & Answer
Explanation of Solution
General training is valuable in all firms. It is portable and can be carried to any firm at any time. On the other hand, specific training is valuable only in the firm that delivers the course. Thus, the specific skill is unusable once the worker leaves the firm. Workers pay for and collect the returns from general training whereas, workers and firms share both the costs and the returns of specific training.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Discuss the difference between general training and specific training. Who pays for and collects the returns from each type of training?
How does a human capital investment in education increase your lifetime earning?
Describe “Soft-Side” Skills?
Knowledge Booster
Similar questions
- Your manager has requested you to assist with training on work relationships. Describe the four types of work relationships and a real-life scenario to illustrate each type of relationship.arrow_forwardWhat steps are taken when the supply of employees is predicted to be greater than demand?arrow_forwardHow might the social value of low versus high power distance influence how youwould lead and motivate employees? What about the value of low versus highperformance orientation?arrow_forward
- Outline the benefits of encouraging a learning culture with the work team.arrow_forwardWhat would be the impact of rational self-interest on your decision whether to attend college fulltime or enter full-time work force?arrow_forwardReaction paper "Career Development Program for Senior High School." with Introduction, body, clossing.arrow_forward
- Wilson is injured on the job when a forklift tips over and falls on him. His boss knew the forklift was in disrepair and dangerous but allowed the forklift to be used. Can Wilson collect worker’s compensation benefits? Can Wilson sue his employer for negligence?arrow_forwardDo you think understanding the basic processes of the brain can influence a teacher’s approachto instructional delivery and student learning? Defend your viewpoint.arrow_forwardDiscuss the view that the specificity of the on-the-job training does not matter in the choice of who bears the cost of on-the-job training.arrow_forward
- Give examples of possible employee benefitsarrow_forwardEssential Skills are needed for Resume and cover letter creation. work, learning, and life. interviewing. education.arrow_forward"An employer will not invest in general training for its employees." Agree or disagree with the statement and justify your response.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage LearningEconomics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co