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Author Question: What is the difference between physical capital and human capital? What will be an ideal ... (Read 58 times)

jman1234

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on: Jun 29, 2018
What is the difference between physical capital and human capital?
 
  What will be an ideal response?

Question 2

Efficiency wages cause unemployment because
 
  A) firms pay wages that are above the market wage, causing the quantity of labor demanded to be greater than the quantity of labor supplied.
  B) firms pay wages that are above the market wage, causing the quantity of labor demanded to be less than the quantity of labor supplied.
  C) firms pay wages that are below the market wage, causing the quantity of labor demanded to be less than the quantity of labor supplied.
  D) firms pay wages that are below the market wage, causing the quantity of labor demanded to be greater than the quantity of labor supplied.


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carojassy25

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Physical capital includes manufactured goods which are used to produce other goods and services. Human capital refers to the accumulated education, training, and skills that workers possess.

Answer to Question 2

B


jman1234

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

okolip

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Reply 3 on: Yesterday
Excellent

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