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When an employer pays the cost of educating a worker

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57.When an employer pays the cost of educating a worker, it is likely that the employera.is demonstrating altruistic motives.b.is pursuing some objective other than profit-maximization.c.hopes to recapture its investment in the form of increased labor productivity.d.receives reimbursement from the government for the cost of the education.ANS: CPTS: 1DIF: 1REF: 19-1TOP: Human capitalMSC: Applicative58.The wage difference between jobs that require education and those that don’ta.is not likely to be related to productivity differences.b.is a barrier to obtaining an education.c.does not affect the supply of workers in the different labor markets.d.encourages workers to bear the cost of acquiring education.ANS: DPTS: 1DIF: 1REF: 19-1TOP: Human capitalMSC: Applicative59.The Asian Development Bank has been investing in education and training programs in the developingeconomies of Asia over the last five years. As a result of this investment, economists who adhere to thehuman capital view of education would predicta.rising wages as labor productivity is enhanced.b.falling wages as the labor market is saturated with too many educated workers.c.the marginal productivity of capital would not be affected.d.the marginal productivity of labor would not be affected.ANS: APTS: 1DIF: 2REF: 19-1TOP: Human capitalMSC: Applicative60.Nemedia and Aquilonia have just started to trade with each other. Nemedia exports goods produced withskilled labor and imports goods made with unskilled labor from Aquilonia. Over time, we would expectthat the wages of skilled labor in Nemedia willa.rise, and the wages of unskilled labor in Nemedia will fall.b.fall, and the wages of unskilled labor in Nemedia will rise.c.rise, and the wages of unskilled labor in Nemedia will rise.d.fall, and the wages of unskilled labor in Nemedia will fall.ANS: APTS: 1DIF: 3REF: 19-1TOP: WagesMSC: Analytical61.If unskilled labor is relatively plentiful and cheap in many foreign countries, then as the United Statesexpands its trade with these foreign countries, the domestic demand fora.unskilled labor will rise and skilled labor will fall.b.skilled labor will rise and unskilled labor will fall.c.both skilled and unskilled labor will rise proportionately.d.both skilled and unskilled labor will be unaffected, assuming no barriers to free trade.ANS: BPTS: 1DIF: 2REF: 19-1TOP: Increasing value of skillsMSC: Interpretive

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