The Two Basic Ways for Workers to Acquire Human Capital

question 73

Multiple Choice

The two basic ways for workers to acquire human capital are

• A) formal education and "learning by doing."
• B) purchases in the capital market and trade.
• C) increases in the capital stock and increases in total factor productivity.
• D) training and intuition.

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Definitions:

Least Squares Line

The line that minimizes the sum of the squared differences between observed and predicted values in regression analysis.

Sales

The total amount of a product or service sold within a particular period of time, usually expressed in units or monetary terms.

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The activity or profession of producing advertisements for commercial products or services, aimed at influencing public perception or behavior.

Coefficient of Determination

A statistical metric that calculates the percentage of variability in the outcome variable that can be predicted from one or more predictor variables.