Human Capital

A. footballers give more entertainment
B. lecturers are lazy
C. the labor markets are imperfect
D. top footballers are relatively scarce in relation to lecturers

A. there are too few teachers
B. too few student places in higher education
C. it is costly to acquire human capital
D. teachers’ salaries are too low

A. increase the wage, increase employment
B. maintain the wage, increase employment
C. increase the wage, lower employment
D. maintain the wage, lower employment

A. will not work at the offered wage
B. would work at the going wage but can’t find jobs
C. will not work because the hours are anti-social
D. Are not prepared to move house to get the job

A. depreciation of the existing capital stock
B. productive investment
C. dwellings
D. inventories

A. its scrap values
B. its depreciation
C. the present value of the future stream of income it can earn
D. the cost of loans

A. encourage the use of more capital in the long run, reduce demand for all inputs
B. encourage the use of more capital increase demand for all inputs
C. encourage the use of less capital reduce demand for all inputs
D. encourage the use of less capital, reduce demand for all inputs

A. wage differentials, skill levels
B. technology, the ease of factor substitution
C. government grants, international competition
D. patents, skill shortages

A. employees
B. the population
C. the factors of production
D. the working population

A. housing gets priority
B. industry gets priority
C. farming gets priority
D. the equilibrium rental rate equilibrium total demand with supply