If a Person Can Make $70,000 as an Accountant, $60,000

question 298

Multiple Choice

If a person can make $70,000 as an accountant, $60,000 as a chef, $20,000 as a mechanic, and nothing as an opera singer, he or she has a comparative advantage in

• A)accounting.
• B)being a chef.
• C)being a mechanic.
• D)opera singing.

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Definitions:

Investment in Human Capital

Refers to the process of improving the workforce's skills, knowledge, and abilities through education, training, and health interventions to enhance productivity and economic growth.

Worker Productivity

The measurement of the efficiency of a worker or group of workers in converting inputs into useful outputs.

Annual Earnings

The total amount of income earned over the course of a year from employment and other sources.

Geographic Imobility

The hindrance or inability of labor forces to move from one region to another in pursuit of job opportunities.