MCQs of Economics – Human Capital

If a person who works in coal mine gets paid more than a person with a similar background and skills who works in a safer job, then

According to the human capital view of education education education

Which of the following is not part of a worker’s human capital?

According to the signalling view of the education education

All of the following would tend to increase a worker’s wage except

In a competitive market, which of the following is least, likely to be the source of a persistent discriminatory wage differential?

If two jobs requires the same amount of skills and experience the job that pays the most is most likely to be the one that is:

Which of the following could result in women being paid less than men?

Which of the following is true regarding the earning of attractive versus unattractive workers?

Economists have hypothesised that the widening gap between the wages of unskilled workers and skilled workers may be due to

Which of the following professionals is most likely to be able to generate the income of a superstar?

It is not considered discrimination when an employer offers different opportunities to individuals that differ only by their

In order for a market to support superstars it must have which of the following characteristics?

Which of the following statements regarding discrimination is true?

Competitive markets tend to:

A wage differential among groups may not by itself be evidence of discrimination in the labour market because different groups have

Which of the following is not a reason why some workers are paid above the equilibrium wage?

Which of the following is likely to generate a compensating differential?

Which of the following explanations of wage differentials is not likely to be true?

The substitution effect of a rise in the price of labour will ____ the quantity of labour and the output, effect will ____ it

As more labour is used the marginal physical product of labour increases

A profit-maximizing firm will hire labour until _____ equals the _____

The downward sloping marginal physical product of labour is the firm’s

When we say that labour demand is a derived demand, we are referring to government initiatives to increase employment

The participation rate in the labour force is affected by

Top footballers tend to earn more than lecturers because

Human capital can be described as

The supply of highly educated workers is fixed in long run

The most important source of wage differentials are:

Skilled labour is relatively scarce because

The opportunity cost of acquiring education is

By restricting labour supply a trade union can _____ and ____

Unions achieve a higher wage differential the more _____ and the more ______

A closed shop is a union that has no room for additional members

In the West Women and non-whites on average receive lower incomes than white men because

Involuntary unemployment exists if workers

Efficiency wages are ____ that raise _____

The difference between gross investment and net investment is

the cost of using capital services is the:

The value of an asset depends upon

The marginal revenue product of capital is the:

The demand for capital services is derived from a falling MRPK schedule

In the short run, the supply of capital is ____ and in the long run will depend on ____

If workers get a real wage increase this will likely ____ and _____

The supply of land is normally greater in the long run than in the short run

Land will be allocated between competing uses so that:

Different capital intensity in different industries is mainly explained by ____ and ______

The functional distribution of income shows how national income is divided between

The transfer earnings of factor are the payments received in excess of its opportunity cost,