Human Capital Accumulation Is Different from Physical Capital Accumulation in That

question 36

Multiple Choice

Human capital accumulation is different from physical capital accumulation in that

• A) human capital costs more to acquire.
• B) human capital is less productive.
• C) there is no limit to human knowledge or how productive individuals can become.
• D) human capital suffers from diminishing marginal returns.
• E) physical capital has higher returns.

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Definitions:

Seating Capacity

The number of people who can be accommodated in a space, such as a vehicle, room, or venue, based on the available seats.

Tax Revenue

The revenue that governments acquire by imposing taxes.

Output Efficiency

A state where resources are allocated in the most effective manner, producing the maximum amount of goods and services.

Willingness To Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting their valuation of it.