workers earn higher wages: i. when the demand for labor rises in an industry. ii. when they possess a greater amount of human capital. iii. they perform more dangerous jobs. a. ii only b. iii only c. ii and iii only d. i, ii, and iii e. none of these factors matter for market wages.



Answer :

Workers earn more money when the demand for labor in an industry increases, when they have more human capital, and when they perform more dangerous jobs.

Human capital is a term used by social scientists to describe personal characteristics that are thought to be useful in the production process. It includes employee knowledge, skills, and know-how, as well as good health and education. Individual earnings are significantly influenced by human capital.

Human Capital Formation Sources. Education investment, along with other sources such as health, migration, on-the-job training, and information, is recognized as one of the primary sources of human capital.

Hence, the correct answer is "D".

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