The Productive Skills Resulting from Previous Investments in Education and Training

question 38

Multiple Choice

The productive skills resulting from previous investments in education and training are called

• A) human capital.
• B) signals.
• C) compensating differentials.
• D) nonlabor income.

---

Definitions:

U.S. Income Tax

A tax levied by the federal government of the United States on the annual income of individuals, corporations, trusts, and other legal entities.

Cradle-to-Grave Security

refers to a system of comprehensive social welfare policies designed to provide individuals with protection and support from childhood through old age.

Socialist

An advocate or supporter of socialism, a political and economic theory advocating for the ownership and control of the means of production by the community as a whole.

Price Mechanism

The process by which prices rise or fall as a result of changes in supply and demand, guiding the allocation of resources in a market economy.