When a person receives more education, this is referred to as increasing his or her _.When a firm buys a new copy machine, this is referred to as purchasing _.
A)human capital; physical capital
B)labor; capital labor
C)labor; capital
D)human capital; land

Question

Quizplus · Accepted Answer

Increasing education is a form of increasing human capital, as education improves a person's skills, knowledge, and abilities. Purchasing a copy machine is a form of purchasing physical capital, as it is a tangible asset that can be used to produce goods or services. Option B's reference to "capital labor" is not a correct term, while option D's mention of "land" is not relevant to the scenario provided.

When a Person Receives More Education, This Is Referred to as Increasing