Spending time and money on education are costs of investing in human capital

Classical economists believe that ________

A) it takes a long time for economic variables to reach equilibrium B) short-run fluctuations are too infrequent and mild to be of much interest C) real variables like output and investment are not determined by nominal variables D) all of the above E) none of the above

When workers are paid a wage that is less than their contribution to a monopsonist's revenues

A) this is sometimes referred to monopsonistic exploitation. B) this is sometimes referred to as an incentive. C) they seek part time employment. D) they file a grievance with their union representative.