Surgeons earn more than janitors because:
a. of the negative correlation between level of education and productivity
b. of the inverse relationship between wages and productivity.
c. the accumulation of human capital leads to an improvement in productivity.
d. of the negative relation between productivity and the amount of physical capital.
e. surgeons spend more time at work than janitors.
c
You might also like to view...
The relationship that tells us how much a person intends to spend at various levels of income is
A) the expenditure function. B) the consumption function. C) the buying function. D) the spending function.
Which of the following is one reason for the decline in aggregate demand that led to the recession of 2007-2009?
A) falling oil prices B) increases in housing prices C) a decline in government spending D) the financial crisis
If the price of diamonds is expected to decrease, all else equal, then the demand for diamonds ________ and the demand for platinum ________
A) decreases; increases B) decreases; decreases C) increases; increases D) increases; decreases
The IS curve is Y = 20 - 1.5r, and the aggregate demand curve is Y = 15.5 - 0.3?. When the interest rate is 7 percent, the inflation rate is ________ percent
A) 14.6 B) 9.5 C) 3.6 D) 20 E) none of the above