The earnings of most people
A) increase steadily until retirement.
B) increase with age until around age 50 due to increased experience, training, and hours worked.
C) increase with age until around age 40 due to increased experience and hours worked.
D) increase with age until around age 60 due to increased experience, training, and hours worked, then level off as hours worked levels off.
Answer: B
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A perfectly elastic, long-run market supply curve is most likely to be achieved in
a. a price-taker industry. b. a constant cost industry. c. an increasing cost industry. d. a price searcher industry.
An example of the opportunity to gain human capital would be:
A. a firm offering on-the-job training. B. a firm starting a community garden for its employees. C. a firm expanding and creating 20 more jobs. D. All of these are examples of human capital.
The velocity of circulation grows at 1 percent and real GDP grows at 3 percent. If the quantity of money grows at 2 percent, the inflation rate is
A) 8 percent. B) 10 percent. C) zero. D) 2 percent. E) 4 percent.
An inequality trap has a negative impact on human capital development.
Answer the following statement true (T) or false (F)