1. Explain the concept of compensating wage differential. 2. Use the assumption of worker mobility to predict the theory of the compensating wage differentials. 3. Use the assumption of worker information to predict the theory of the compensating wage differentials. 4. Define human capital. 5. Explain two ways employers can recover training costs of employees. 6. Describe the on-the-job training aspect of human capital. 7. Discuss structural unemployment. Outline how policymakers can reduce this type of unemployment. 8. Discuss frictional unemployment. Outline how policymakers can reduce this type of unemployment. 9. Outline the noneconomic costs of unemployment. 10. With the aid of diagrams, discuss the implications of equilibrium for a competitive economy containing two regional markets when workers and firms are free to enter and exit the markets