Which of the following is generally an opportunity cost of investment in human capital?
a. future job security
b. forgone present wages
c. increased earning potential
d. All of the above are correct.
b
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Which of the following is TRUE about how trade deficits and government budget deficits are related?
A) The government budget deficit leads to higher interest rates that will lead to a trade deficit. B) The government budget deficit leads to lower interest rates that will lead to a lower trade deficit. C) The trade deficit leads to a reduction in investment that leads to a government budget deficit. D) The trade deficit leads to a decline in imports relative to exports that leads to a government budget deficit.
When the price of a good rises, there is
A) an increase in supply. B) a decrease in supply. C) a decrease in quantity supplied. D) an increase in quantity supplied.