Human Capital Refers to

question 142

Multiple Choice

Human capital refers to

• A) the skills and knowledge that enable a worker to be productive.
• B) machinery used by labor in production.
• C) the accumulated financial wealth of households.
• D) physical capital owned by households rather than businesses.

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Definitions:

Unemployment Rate

The level of joblessness among the workforce, with individuals actively seeking employment.

Labor Force

The aggregate count of individuals who are either working or actively looking for work within a specific country or area.

Consumer Price Index

An evaluation method that looks into the composite average of prices for a collection of consumer goods and services, including items like transportation, food, and healthcare.

Urban Household

A household located in a city area, often distinguished by different sociological and economic characteristics than rural households.