The Gains from General Training Goes To

question 23

Multiple Choice

The gains from general training goes to:

• A) neither to the firms, nor to the employees, but to the training institute.
• B) both firms and employees.
• C) firms, not employees.
• D) employees, not firms.

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Definitions:

Excise Tax

A tax imposed on specific goods, services, or activities, such as tobacco, alcohol, or gasoline, usually to raise revenue and discourage consumption of the taxed items.

Income Subsidy

Financial assistance provided by the government to individuals or groups to increase their income.

Indifference Curves

Graphical representations used in microeconomics to illustrate combinations of two goods between which a consumer is indifferent.

Optimal Utility

The highest level of satisfaction or benefit that a consumer can achieve given their resources.