Ralph is a plumber. Which of the following are included in his physical capital?
A)the knowledge he learned on the job, and the tools he uses
B)the knowledge he learned on the job, but not the tools he uses
C)the tools he uses, but not the knowledge he learned on the job
D)neither the knowledge he learned on the job nor the tools he uses

Question

Quizplus · Accepted Answer

Physical capital refers to tangible assets used in production, such as tools and equipment. The knowledge Ralph learned is considered human capital, not physical capital.

Ralph Is a Plumber