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- Subject
- Education, Health, And Human Capitaleconomics-mcqs › education-health-and-human-capital
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
Explanation
In a competitive economy, a worker's earnings correspond to the marginal product of their labor, which is the additional output generated by employing one more unit of labor. Other factors like brain drain, marginal utility, or substitutability between labor and capital do not directly determine a worker's income.
More Education, Health, And Human Capital MCQs
Practice related questions from the same subject.
- 1.What term describes the migration of talented professionals from developing nations to other countries?
- 2.According to Simon S. Kuznets, what constitutes the primary asset of a developed economy instead of its physical capital?
- 3.Which statement about education in Less Developed Countries (LDCs) is incorrect?
- 4.Which statement below is INCORRECT regarding child mortality?
- 5.Out of the 57 million deaths worldwide in 2002, how many were caused by stroke and heart disease, and how many were due to cancer, particularly in developing countries?
- 6.According to Gunnar Myrdal, what is a significant obstacle to achieving high labor productivity?
- 7.What did the U.S. Census Bureau project for the life expectancy in Botswana and South Africa by the year 2010?
- 8.Which statement below is incorrect?
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