1.Which of these statements describes an economy’s stock of human capital? A.Number of hours worked per...

1.Which of these statements describes an economy’s stock of human capital?

A.Number of hours worked per year.

B.Number of engineering degrees held by workers

C.Value of the production per type of worker.

2.Which factors would increase the aggregate production function?

A.Aging airport facilities that cause flight delays.

B.Restrictions on immigration.

C.A robot that fills up prescriptions faster and more accurately than pharmacists.

3.Which of the following would NOT directly result in capital deepening?

A.Increase in quality of physical capital.

B.Increase in quantity of physical capital.

C.Increase in amount of labor available to businesses start ups.

Expert Solution

1) The correct option is c) The value of the production per type of worker
Human capital is the elements of production that a worker has that can add value to the quality of the product he produces. Hence an economy's stock of human capital can be the value of the production per type of worker. Different types of workers will have different values of production which determines an economy's stock of human capital.

2) The correct option is C) A robot that fills up prescriptions faster and more accurately than pharmacists. This is a factor that would increase the aggregate production function as better technology leads to an increase in output and capital, which in turn increases aggregate production function.

3) The correct option A) Increase in quality of physical capital.
Capital deepening is the increase in the capital-labor ratio, hence it does not depend on the quality of the labor and the physical quality. Hence it depends on the quantity of capital and labor. This is why the increase in the quality of physical capital does not directly result in capital deepening.

Rahul Sunny answered 7 months ago

In a Human Capital Solow Model. What happens to total capital stock (human and physical) per...

In a Human Capital Solow Model. What happens to total capital stock (human and physical) per work, output per worker, output, and consumption per worker over time when: A) G spending on military ↑ B) G spending on education, infrastructure, healthcare ↑ C) T ↑ D) Foreign Direct Investment (trade) allows domestic investment (I) to ↑

Which of the following statements best describes the optimal capital structure? a. The optimal capital structure...

Which of the following statements best describes the optimal capital structure? a. The optimal capital structure is the mix of debt, equity, and preferred stock that maximizes the company's earnings per share (EPS). b. The optimal capital structure is the mix of debt, equity, and preferred stock that minimizes the company's cost of preferred stock. c. The optimal capital structure is the mix of debt, equity, and preferred stock that minimizes the company's cost of debt. d. The optimal capital...

standard labor hours per unit 4.5 hours standard labor rate $17 per hour actual hours worked...

standard labor hours per unit 4.5 hours standard labor rate $17 per hour actual hours worked 2,000 hours actual labor $38,000 actual output 500 units What is the labor efficiency variance? $4,250 favorable $1,500 unfavorable $4,250 unfavorable $1,500 favorable Which is correct?

1. A researcher has obtained the number of hours worked per week during the semester for...

1. A researcher has obtained the number of hours worked per week during the semester for a sample of 10 students: 21, 33, 26, 16, 32, 20, 29, 20, 19, 20 Use the data set to compute the mean, the median, the mode, the range, the sample variance, the sample standard deviation, the 10th percentile, The sum of the squared deviations of each value of X from the mean. Briefly explain what information about the variable is provided by your...

The number of hours worked per year per adult in a state is normally distributed with...

The number of hours worked per year per adult in a state is normally distributed with a standard deviation of 37. A sample of 115 adults is selected at random, and the number of hours worked per year per adult is given below. Use Excel to calculate the 98% confidence interval for the mean hours worked per year for adults in this state. Round your answers to two decimal places and use ascending order. Number of hours 2250 1987 2029...

Do engineers work more hours per week than the national average hours per week worked? ...

Do engineers work more hours per week than the national average hours per week worked? [ Choose ] Two-sided test One-sided lower test One-sided upper test Is the gas mileage of a smart for two coupe really less than 40 mpg? (According to the 2013 EPA gas mileage figures, the answer is yes. Doesn't seem that smart…) [ Choose ] Two-sided test ...

A survey was undertaken to estimate the hours worked per week by volunteers in a social...

A survey was undertaken to estimate the hours worked per week by volunteers in a social service agency. The agency provides telephone support 7 days a week for 12 hours each day. There are currently 12,478 volunteers across the country. This number is the number recorded in the volunteer register on 1 May 2018. 100 of these volunteers were randomly chosen. The 100 were each sent an email and asked to record the total hours they worked for the week...

A researcher has obtained the number of hours worked per week during the summer for a...

A researcher has obtained the number of hours worked per week during the summer for a sample of fifteen students. 40 25 35 30 20 40 30 20 40 10 30 20 10 5 20 Using this data set, compute the a. Median and mode b. mean c. 40th percentile d. range e. sample variance f. standard deviation

Which one of the following statements is false? Differences in human capital account for about half...

Which one of the following statements is false? Differences in human capital account for about half of the wages differences between whites and blacks. Differences in education are not nearly as pronounced for gender groups as they are for race. No wage discrimination between men and women remains once one accounts for differences in human capital, occupational segregation, and work experience. Earnings tend to rise with human capital investment. On average, women make less than men with similar education levels...

Given conditions, complete the wage calculation Craft-Mason Wage rate-$26.00 per hour Hours worked-50 hours per week...

Given conditions, complete the wage calculation Craft-Mason Wage rate-$26.00 per hour Hours worked-50 hours per week for 18 weeks and 40 hours per week for 19 weeks Paid vacation, holidays, and sick leave-Three weeks at 40 hours per week Overtirne-Time-and-a-halffor any hours over 40 per week Gas allowance-$100 per month Annual bonus-$500 Social security-6.2 percent on the first $106,800 of wages Medicare-lAS percent ofallwages FUTA-0.8 percent on the first $7,000 of wages SUTA--4.5 percent on the first $18,000 ofwages Worker...

Question