Which of the Following Best Explains Why the Most Rapid

question 39

Multiple Choice

Which of the following best explains why the most rapid increase in a person's wages usually occurs at younger ages,giving a concave shape to the age/earnings profile?

• A) On-the-job training is free.
• B) On-the-job training usually declines with age.
• C) People who have more human capital are more likely to acquire more on-the-job training.
• D) People with children cut back their hours of work.

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Definitions:

Employer Contribution

The amount of money that an employer adds to an employee's benefits, such as retirement plans or health insurance.

Employee Contribution

The portion of income, investment, or expense that is provided by an employee, often related to benefits or retirement plans.

Employee's Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.

Control Charts

A statistical tool used in quality control processes to monitor, control, and improve process performance by detecting process variations.