The human-capital theory explanation for why people invest in education has been challenged by a theory that suggests
a. schooling acts only as a signal of ability.
b. humans cannot be considered "capital."
c. productivity is not linked to wages.
d. ability, effort, and chance matter more.
a
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The Uruguay Round was unsuccessful in its attempt to strengthen international protection of intellectual property rights
Indicate whether the statement is true or false
Countercyclical policy:
What will be an ideal response?
Figure 17.1 depicts a firm's marginal revenue product curve. If the prevailing hourly wage decreases:
A. the marginal revenue product curve shifts upward. B. the marginal revenue product curve shifts downward. C. the marginal revenue product curve does not shift, but there is a movement upward along the curve. D. the marginal revenue product curve does not shift, but there is a movement downward along the curve.
First-dollar health insurance reduces the:
A. marginal benefit of medical care to the insured. B. total cost of providing medical care. C. equilibrium amount of medical care received by the insured. D. marginal cost of medical care to the insured.