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The basic determinants of labor inputs (total hours of work) include:

a) Wage rates
b) Population size
c) Education level
d) All of the above

User Eyes
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Final answer:

All the options provided - wage rates, population size, and education level - are determinants of labor inputs. Higher education levels typically lead to greater human capital and thus, higher labor productivity. The size and quality of the workforce, as well as wage rates, also play significant roles in labor inputs.

Step-by-step explanation:

The basic determinants of labor inputs (total hours of work) include all of the options listed: wage rates, population size, and education level. These factors play a crucial role in determining the productivity of workers within an economy.

Human capital is a key determinant of labor productivity, which includes the accumulated knowledge from education and experience, as well as skills and expertise that an average worker brings to the economy. A higher average level of education often leads to greater human capital and, consequently, higher labor productivity.

Moreover, the size of the labor force is important. While having a large workforce can contribute to higher GDP, the quality of that workforce, in terms of their human capital, is what leads to innovation and development. Wages and salaries also influence labor inputs by affecting the cost of production and the amount of labor an economy can supply.

User Britni
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