Suppose that a labor economist claims that recipients of economics PhDs gain little in terms of acquired productive skills from their graduate studies, but instead, the degree simply reflects a high level of inherent mathematical ability.
Which one of the views of education characterizes the labor economist's perspective?
Rapper Jay-Z has earned enourmous sumsn of money by supplying creative music to millions of fans. Which of the following statements characterize this market, in which some earn astronomical incomes, while others (who may have similar talent) earn very little?