In the 1980s, Howard was one of the best car phone repairmen in his area. After staying home in the 1990s and early 2000s to take care of his children, Howard wants to go back to work in the phone repair business. Which of the following can be said about Howard?
A. Howard's ability to repair car phones represents an obsolete skill.
B. Because car phones are obsolete, Howard's human capital is less valuable.
C. Howard's knowledge of how to repair car phones is obsolete, and his human capital is less valuable now than in 1980.
D. All of these could be said about Howard.
Answer: D
You might also like to view...
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Results of the ultimatum game indicate that most people value fairness enough that they will refuse to participate in a transaction they consider unfair, even if they are worse off financially as a result
Indicate whether the statement is true or false
Refer to Table 20-17. Looking at the table above, real average hourly earnings in 2015 were
A) $3.67. B) $5.63. C) $10.24. D) $11.37.
If the U.S. interest rate falls at the same time there is an increase in British real GDP, which of the following would happen in the market for British pounds?
a. A rightward shift of the demand for pounds curve, a rightward shift of the supply of pounds curve, a larger number of pounds traded, and an indeterminate effect on the dollars per pound exchange rate. b. A rightward shift of the demand for pounds curve, a rightward shift of the supply of pounds curve, a larger number of pounds traded, and an increase in the dollars per pound exchange rate. c. A rightward shift of the demand for pounds curve, a rightward shift of the supply of pounds curve, a larger number of pounds traded, and a decrease in the dollars per pound exchange rate. d. A leftward shift of the demand for pounds curve, a rightward shift of the supply of pounds curve, a larger number of pounds traded, and an indeterminate effect on the dollars per pound exchange rate. e. Cannot be determined without additional information.