Explain one method of comparing the benefits and costs associated with human capital investment, using a formula, especially what costs and benefits are associated with obtaining a college education. (3 points) Explain why is it necessary to determine the present value of costs and benefits in making a rational choice to undertake an investment, and in this case, higher education. (2 points) Most empirical studies suggest that the rate of return on investing in a college education has ranged from 15 to 20 percent, which supports that investment is a rational choice. What are some of the implications of HCT? What are some of the criticisms of HCT? (10 points)

In deciding whether or not to go to college, one would compare the discounted value of:

According to the 2022 US Census report, approximately, the poverty rate is __________ and the Gini coefficient is__________

If the wage is $11, how many workers will this profit-maximizing firm choose to employ?

The US earnings distribution is:

Consider an individual who will invest a total of $10,000 in direct and indirect costs for training in order to increase earnings by $12,500 for the next year. Suppose the interest rate is 8%. If this person plans to retire the following year, the net present value of this investment is:

Family background is thought to influence an individual‘s earnings:

Someone claims that relativism is a good ethical theory because it requires societies to be tolerant and respectful of each other despite their different opinions. Why is this claim not relativism? 

Someone claims that subjectivism is a good ethical theory because it requires individual people to be tolerant and respectful of each other despite their different opinions. Why is this claim not subjectivism? 

The four conditions of the principle of double effect are collectively what kinds of conditions for an act to be right from the perspective of natural law theory, when the act produces a good effect and bad effect relative to natural law ?