Asked by Khalil Vonner on Jun 19, 2024
Verified
People who have higher levels of human capital will tend to:
A) work only in nonunion jobs.
B) receive higher salaries than do those who have lower levels of human capital.
C) earn salaries based on marginal costs of their labor.
D) earn salaries higher than their value of marginal product.
Human Capital
The competencies, understanding, and expertise held by a person or group, considered regarding their importance to a company or community.
Higher Salaries
Refers to wages that are above the average for a particular profession or region, often due to high demand, skill level, or experience.
Marginal Costs
The additional cost incurred from the production of one more unit of a product or service.
- Comprehend the significance of human capital in influencing wage differences.
Verified Answer
CC
cicney charlesJun 24, 2024
Final Answer :
B
Explanation :
Human capital refers to a person's knowledge, skills, and abilities that contribute to their productivity in the workforce. Individuals with higher levels of human capital are often more productive and valuable to employers, which leads to higher wages and salaries.
Learning Objectives
- Comprehend the significance of human capital in influencing wage differences.