Multiple Choice
After the Second World War, several Asian countries including Japan had low wages compared to Australia and New Zealand. These Asian countries however, increased worker education levels faster than Australia and New Zealand. As a result of this investment, economists who adhere to the human capital view of education would predict:
A) falling wages in Japan as the labour market is saturated with too many educated workers
B) that the marginal productivity of capital in Japan would not be affected
C) that the marginal productivity of labour in Japan would not be affected
D) rising wages in Japan as labour productivity is enhanced
Correct Answer:
Verified
Correct Answer:
Verified
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