Examlex

Solved

Given the Amount of Time and Other Costs of Investing

question 63

Essay

Given the amount of time and other costs of investing in human capital that it takes to earn a Ph.D., why are college professors paid less than other occupations that require similar or lesser amounts of human capital?


Definitions:

Graduate Management Admission Test

A standardized test that assesses analytical, writing, quantitative, verbal, and reading skills in written English used as part of the admissions process for graduate business programs worldwide.

Tutor

A person who provides individual or small group instruction in a specific subject or skill, often supplementing formal education.

Managerial

Pertaining to the activities, responsibilities, and skills involved in managing an organization or part of it.

Economic Forces

Factors such as inflation, exchange rates, economic growth, and governmental policy that affect the business environment and economic performance.

Related Questions