172:37 41. Problems and Applications Q7 What is the opportunity cost of investing in capital? O Improved technology that leads to faster growth The loss of consumption that results from redirecting resources toward investment O Higher taxes Which of the following statements are consistent with a country possibly overinvesting in capital? Check all that apply. People would prefer to have higher consumption spending and less future growth. As the stock of capital rises, the extra output produced from an additional unit of capital rises. As the stock of capital rises, the extra output produced from an additional unit of capital falls. People would prefer to have lower consumption spending and higher future growth. What is the opportunity cost of investing in human capital? The goods or resources that could be produced if not investing in human capital O Lower taxes Improved technology that leads to faster growth Which of the following statements are consistent with a country possibly overinvesting in human capital? Check all that apply. People are not educated enough to fill existing job openings. The best job a Ph.D. in philosophy can find is managing a restaurant. Each person's education level matches his or her profession