Human Capital

A. variable, technology
B. fixed, expectations
C. fixed, rental rate of capital
D. variable, interest rates

A. change in a company’s balance sheet when it acquires new plant
B. additional value of output from using more capital
C. change in company’s price
D. changing value of the capital stock

A. wage rate of capital
B. interest charges
C. marginal capital cost
D. rental rate for capital

A. low wages, employment
B. high wages, labor supply
C. high wages, productivity
D. high wages, employment

A. they tend to work in relatively unskilled jobs
B. educational disadvantage
C. firms are reluctant to invest in training
D. all of the above

A. regional variation
B. unionization
C. relative danger
D. skills

A. inelastic the demand for labour, they can restrict the supply of labour
B. members they have, aggressive they behave
C. the economy is growing, people prefer leisure
D. the productivity is growing vacancies exist

A. course fees
B. course fees and living expenses
C. the earnings foregone
D. Course fees living expenses and textbook

A. the tools used by workers to enhance productivity
B. a person inherited ability
C. the stock of expertise accumulated by a worker
D. education

A. higher real wages
B. lower fixed costs of working
C. lower non-labour income
D. changes in tastes between leisure and work
E. all of the above