A labor immobilities b compensating differences c

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A. labor immobilities B. compensating differences C. free public education D. noncompeting groups 143.The idea of compensating differences is used: A. by inclusive unions as an argument in bargaining for wage rate increases. B. to justify the application of minimum wages to low-wage labor markets. C. to explain the divergence between wage rates and marginal resource cost. D. to explain wage rate differences based on differing nonmonetary aspects of jobs. 144.The concept of investment in human capital indicates that: A. union workers are better educated and more productive than nonunion workers. B. expenditures on education can be explained in essentially the same way as expenditures on machinery and equipment. C. worker productivity correlates negatively with annual earnings. D. the level of education is unrelated to the level of one's income.
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145.Data on education and earnings reveal: A. negative age-earnings profiles for male workers. B. no relationship between the two. C. a positive relationship between the two. D. a negative relationship between the two. 146.According to age-earnings data, A. lower educated workers have similar earnings at age 65 as higher educated workers. B. investments in education result in higher earnings. C. high earnings are due to motivation and innate ability, rather than education. D. there is no clear relationship between education and worker productivity. 147.The earnings of highly educated workers: A. rise more slowly than those of less-educated workers. B. rise more rapidly than those of less-educated workers. C. rise at about the same rate as those of less-educated workers. D. stagnate earlier than do those of less-educated workers. 148.Economists regard expenditures on education as investments because: A. they are subject to tax deductions at the same rate as are expenditures on machinery and equipment. B. education is economically beneficial at the same time it is being acquired. C. such expenditures are current costs that are intended to enhance future earnings. D. they differ from expenditures on health and worker mobility. 149.Which of the following involves the creation of human capital? A. the XYZ Corporation upgrades the machinery on its assembly line B. Jones receives apprenticeship training as a carpenter C. Smith buys 30 shares of common stock D. a retired person decides to reenter the labor force 150.Human capital is best defined as: A. the productive skills and knowledge that workers acquire from education and training. B. the substitution of labor for machinery in the production process. C. any piece of machinery that must be combined with labor to be productive. D. the exchange of money for real assets.
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A labor immobilities B compensating differences C free...

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