Human capital is
A)The knowledge and skills possessed by the labor force.
B)Able to increase only if the labor force grows.
C)Insignificant in productivity advances.
D)The ratio of labor to capital.

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge, skills, and abilities possessed by the labor force. It is an important factor in productivity and economic growth. It can increase through education, training, and experience, and is not dependent solely on the size of the labor force. The ratio of labor to capital is a separate concept in economics.

Human Capital Is