Asked by Victoria Nguyen on Jun 03, 2024
Verified
The concept of investment in human capital indicates that:
A) union workers are better educated and more productive than nonunion workers.
B) expenditures on education can be explained in essentially the same way as expenditures on machinery and equipment.
C) worker productivity correlates negatively with annual earnings.
D) the level of education is unrelated to the level of one's income.
Investment in Human Capital
Refers to the process of improving the workforce's skills, knowledge, and abilities through education, training, and health interventions to enhance productivity and economic growth.
Worker Productivity
The measurement of the efficiency of a worker or group of workers in converting inputs into useful outputs.
Annual Earnings
The total amount of income earned over the course of a year from employment and other sources.
- Acquire knowledge on the idea of human capital and its establishment through education and training endeavors.
- Acquire knowledge about the contribution of educational investments to future financial returns and output efficiency.
Verified Answer
JA
Johana AguirreJun 04, 2024
Final Answer :
B
Explanation :
The concept of investment in human capital suggests that expenditures on education and training are similar to investments in machinery and equipment, as they both contribute to increased productivity and improved output. It emphasizes the importance of education and training in enhancing individuals' skills and abilities, which in turn can increase their income and overall economic growth.
Learning Objectives
- Acquire knowledge on the idea of human capital and its establishment through education and training endeavors.
- Acquire knowledge about the contribution of educational investments to future financial returns and output efficiency.