If the random variable y denotes an individual’s income, Pareto’s law claims that<u> P(Y>=y)= (k/y) raised to the power of 9</u>. Here k refers to the minimum income of the entire population.
Pareto's law states that for different outcomes, almost eighty percent of the results come from the twenty percent of the causes of the event. We also call it the 80/20 rule or the rule of the vital few or even the principle of factor sparsity.
Joseph M. Juran, a management consultant developed this concept keeping in mind the context of quality control as well as improvement after he read the works of the Italian economist Vilfredo Pareto.
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Answer:
increase ; decrease
Explanation:
Human capital is the production factor of goods and the services that is produced but the human labor.
Human capital input is defined as the labor input of the production adjusted for quality which is related to the skills and health of the labor. The knowledge, qualifications and skills are all formed a part of the human capital that leads to the creation of goods and products.
In the context, the larger labor force who do not have a high school degree will increase the human capital input because worker are in large number and so they will produce more products or services.
While those workers with high school degree will decrease the human capital input because they are smaller in number hence less production output.
Therefore the answer is -- increase ; decrease
