Examlex
Expenditures on education equal about _____ of state and local government financial outlays.
Persistent Wage Differentials
The continuous difference in wages across sectors, regions, or occupations due to factors like differences in skill levels, working conditions, or geographic location.
Principal-Agent Problems
Issues that arise when a principal hires an agent to perform tasks, and the agent's best interest does not align with the principal's.
Human Capital
The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to an organization or society.
Apprenticeship Training
A system of training a new generation of practitioners of a trade or profession through on-the-job training and often some accompanying study (classroom work and reading).
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