Contemporary labor economics 11th edition mcconnell test bank 1

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Contemporary Labor Economics 11th Edition by McConnell Brue Macpherson ISBN 1259290603 9781259290602 Download solution manual at: https://testbankpack.com/p/solution-manual-for-contemporarylabor-economics-11th-edition-by-mcconnell-brue-macpherson-isbn1259290603-9781259290602/ Download full test bank at : https://testbankpack.com/p/test-bank-for-contemporary-laboreconomics-11th-edition-by-mcconnell-brue-macpherson-isbn1259290603-9781259290602/

Chapter 04 Test Bank KEY 1. Human capital investment consists of A. any activity that enhances the quality of labor. B. expenditures for formal schooling only. C. expenditures for on-the-job training only. D. any activity that leads to the substitution of physical capital for labor. AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 04-01 Explain the meaning of investment in human capital. Topic: Investment in Human Capital: Concept and Data

2. "Expenditures on education and training can be treated as investment in human capital." This statement is A. true—current expenses are incurred with the expectation they will be more than compensated for by greater future returns. B. true—education must be financed by borrowing money. C. false—the market for college loans is too imperfect to be consistent with investment models.

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