A) leads to lower lifetime earnings because opportunity costs are high.
B) is an investment in human capital.
C) decreases human capital by lowering work experience.
D) increases as the wages paid to low-skilled workers rise.
F) A) and C)
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Lucy is more product...View Answer
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B) False
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A) Both the human capital theory and the signaling theory of education could explain why college graduates earn more than high school graduates.
B) The signaling theory of education suggests that the ability to complete a college degree is correlated with the ability to perform well in the labor market.
C) If the human capital theory of education is correct,a government policy that pays for additional schooling for all workers would not increase wages.
D) If the signaling theory of education is correct,a government policy that pays for additional schooling for all workers would not increase wages.
F) A) and B)
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A) has no effect on lifetime earnings.
B) alters work ethic.
C) enhances productivity.
D) is an indicator of natural ability.
F) B) and D)
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C
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A) there was no evidence of price discrimination on the basis of player position (hitter versus pitcher) .
B) markets in which the product price is low are not typically characterized by consumer-driven race discrimination.
C) cards for white players (both hitters and pitchers) were 10 to 13 percent higher than those for comparable black players.
D) cards for black players (both hitters and pitchers) were 10 to 13 percent higher than those for comparable white players.
F) A) and C)
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A) The higher wages may be a compensating differential for the cost of acquiring the education.
B) Workers with a college degree signal their higher abilities to potential employers.
C) Skilled labor is increasingly becoming a substitute for unskilled labor,which raises the earnings of workers with more education.
D) Better educated workers are more productive,on average.
F) B) and C)
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A) likely to discriminate against certain groups of workers.
B) likely to be replaced by discriminating businesses.
C) more concerned about racial discrimination than gender discrimination.
D) at an advantage when competing against those who practice discrimination.
F) A) and D)
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D
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A) the human-capital view of education.
B) the signaling view of education.
C) both the human-capital and the signaling view of education.
D) neither the human-capital nor the signaling view of education.
F) B) and D)
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A) discrimination does not affect wage differentials.
B) schooling makes workers more productive in the long-run.
C) schooling makes workers more productive in the short-run.
D) the worker signals to the employer that he is a valuable employee because he was willing to spend time to get an education.
F) All of the above
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A) schooling has no real productivity benefit.
B) no one person finds it easier to earn a college degree than does any other person.
C) the human-capital view of education is entirely correct.
D) employers send signals to young people to persuade them to expend whatever effort is necessary to earn college degrees.
F) B) and C)
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A) human capital theory provides the best explanation of discriminatory practices.
B) differences in average wages do not by themselves provide conclusive evidence about the magnitude of discrimination in labor markets.
C) discrimination is exclusively an economic,rather than political,phenomenon.
D) most of the wage differentials observed in the U.S.economy are due to discrimination.
F) A) and B)
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A) the theory of efficiency wages holds true for that market.
B) there is a powerful labor union representing workers in that market.
C) workers are largely unskilled and/or inexperienced and minimum-wage laws are effectively holding wages up in that market.
D) All of the above are correct.
F) All of the above
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B) False
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A) the theory of efficiency wages
B) the marginal-productivity theory
C) human-capital theory
D) signaling theory
F) All of the above
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A) an increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
B) an increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms
C) a decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms
D) a decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
F) All of the above
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A) Some economists believe that business owners who emphasize profit maximization will hire the most productive workers regardless of the personal characteristics of the worker;hence,these firms will drive discriminating firms out of business.
B) Two economists found that employers in Boston and Chicago were about 50 percent more likely to interview job applicants named Emily and Greg than those named Lakisha and Jamal.
C) Two economists found that women were less likely to participate in an experiment where they were paid based on math skills but more likely to participate when they were paid based on reading skills;men were more likely to participate when they were paid based on math skills and less likely to participate when they were paid based on reading skills.
D) Economists found that the prices of older baseball cards were about 10 percent lower when the player was black rather than white.
F) A) and C)
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A) human capital acquired through education
B) human capital acquired through job experience
C) compensating differentials
D) All of the above can explain wage differences.
F) A) and C)
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D
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A) is demonstrating altruistic motives.
B) is pursuing some objective other than profit-maximization.
C) hopes to recapture his investment in the form of increased labor productivity.
D) receives reimbursement from the government for the cost of the education.
F) C) and D)
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