The figures given below show the demand (D)and supply (S) curves of labor in two different markets.Figure 16.3

-Which of the following refers to human capital?

Question

The figures given below show the demand (D)and supply (S) curves of labor in two different markets.Figure 16.3
 
-Which of the following refers to human capital?

Quizplus · Accepted Answer

Human capital refers to the acquired knowledge, skills, and productivity of workers. It is not related to the money spent by businesses to acquire labor (A), the plant and equipment used with labor (C), or the money spent on purchasing machinery (D). It is also not related to how much money workers save (E).

The Figures Given Below Show the Demand (D)and Supply (S)