Which of the following best defines human capital?
A)the knowledge and skills that workers acquire through education, training, and experience
B)the stock of equipment and structures that is used to produce goods and services
C)the total number of hours worked in an economy
D)the total amount that is paid in wages in an economy

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge and skills that workers acquire through education, training, and experience. It is an important factor in economic growth and development as it helps increase productivity and innovation. Options B, C, and D refer to physical capital, labor input, and labor cost respectively.

Which of the Following Best Defines Human Capital