Which of the Following Is an Example of Human Capital

question 429

Multiple Choice

Which of the following is an example of human capital for a college economics professor?

• A)years of experience
• B)"clickers" which interface with an in-class computer system and display the results of student "votes"
• C)chalk
• D)internet access in the classroom

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Definitions:

Revenue Remaining

The amount of income that remains after subtracting costs and expenses from the total revenue.

Relevant Range

The span within which the assumptions about fixed and variable cost behaviors are valid.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Variable Costing

An accounting method that only includes variable production costs (materials, labor) in product cost, excluding fixed costs.