Question :
21) Increases in human capital can come
A) only from formal : 1238550
21) Increases in human capital can come
A) only from formal schooling.
B) from employing more machinery.
C) only from on-the-job experience.
D) from formal education and on-the-job learning.
E) from nowhere because whatever human capital an individual possesses is what he or she was born with.
22) Expansion of a nation’s human capital can be achieved through
A) education and training.
B) education and saving.
C) education and technology improvements.
D) education only.
E) nothing because human capital is determined by the skills people are born with.
23) Human capital is acquired
A) only in school.
B) only through on-the-job training.
C) only through job experience.
D) through schooling, job training, and experience.
E) only at birth, that is, it’s people’s inborn talents.
24) Advances in technology and growth in human capital ________ because ________.
A) shift the productivity curve downward; labor and capital become less productive
B) shift the productivity curve downward; labor and capital become more productive
C) shift the productivity curve upward; labor and capital become less productive
D) shift the productivity curve upward; labor and capital become more productive
E) do not shift the productivity curve; there is a movement along the productivity curve
25) The expansion of human capital and the discovery of new technologies ________ because ________.
A) are subject to diminishing returns; they shift the productivity curve downward
B) are subject to diminishing returns; they shift the productivity curve upward
C) are not subject to diminishing returns; they shift the productivity curve downward
D) are not subject to diminishing returns; they shift the productivity curve upward
E) are not subject to diminishing returns; they result in a movement along the productivity curve
26) Labor productivity increases if
i.human capital decreases.
ii.technology advances.
iii.quality of education decreases.
A) i only
B) ii only
C) iii only
D) Both i and ii
E) Both ii and iii
27) ________ increases with education, training, and job experience.
i.Physical capital
ii.Human capital
iii.Financial capital
A) i only
B) ii only
C) iii only
D) both ii and iii
E) i, ii, and iii
28) U.S. labor productivity slowed during the 1970s because of
i.increasing government taxes and regulations on production.
ii.the necessity to cope with energy price increases.
iii.inflation, which shortened the horizon over which businesses made their borrowing plans.
A) i only
B) ii only
C) iii only
D) Both i and ii
E) i, ii, and iii
29) Over the last 50 years, U.S. labor productivity grew the fastest during the ________ because of ________.
A) 1900s; the war on terror and return to the basics of education
B) 1990s; advancements in healthcare due to the unlocking of the human genome
C) 1980s; the invention of the computer and the oil embargo
D) 1970s; an increase in government taxes and expanded regulations
E) 1960s; fast paced technological change and large increases in human capital accumulation
30) The law of diminishing marginal returns states that
A) output increases at a constant rate as more capital is added.
B) output decreases at a constant rate as more capital is added.
C) as both labor and capital are increased, output does not change.
D) as both labor and capital are increased, output increases at a decreasing rate.
E) output increases at a decreasing rate as more capital is added.
