Which of the following statements is true?
A) A worker who undertakes general training is likely to earn above his value of marginal product.
B) Firm-specific training results in gains to a worker and not to an employer in the labor market.
C) Job-specific training results in gains to a worker's employer, but it does not result in gains to the worker in the labor market.
D) Training received by a worker does not affect his wages as wage rates are determined by the forces of demand and supply in the labor market.
C
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Which of the following is one of the chief reasons for the change in the participation rate of married women in the U.S. workforce?
Refer to Table 2-1. Assume Tomaso's Trattoria only produces pizzas and calzones. A combination of 36 pizzas and 30 calzones would appear
A) along Tomaso's production possibilities frontier. B) inside Tomaso's production possibilities frontier. C) outside Tomaso's production possibilities frontier. D) at the horizontal intercept of Tomaso's production possibilities frontier.
Other things being equal, a ____ supply of workers tends to ____ real wages
a. larger; decrease b. smaller; decrease c. larger; increase d. smaller; not change
In the above graph, when disposable income is 1,000, saving is
A. 500.
B. 400.
C. -500.
D. -400.