What Term Do Economists Use to Refer to Expenditures on Training

question 40

Multiple Choice

What term do economists use to refer to expenditures on training, education, and skill development designed to increase the productivity of an individual?

• A) overhead expenditures
• B) marginal revenue product
• C) investments in social capital
• D) investments in human capital

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Definitions:

Divine Command Theory

A meta-ethical theory which proposes that an action's status as morally good is equivalent to whether it is commanded by God.

Utilitarianism

An ethical theory suggesting that the best action is the one that maximizes utility, often defined in terms of the well-being of sentient entities.

Humanism

An outlook or system of thought attaching prime importance to human rather than divine or supernatural matters, emphasizing human dignity and potential.

Approved Standards

Refers to formal guidelines or specifications that have been validated by an authoritative body or consensus for repeated use.