Going to College to Get More Knowledge and Skills Is

question 261

Multiple Choice

Going to college to get more knowledge and skills is considered to be an increase in

• A) physical capital.
• B) consumption.
• C) human capital.
• D) net exports.

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Definitions:

Utility Function

An economic model that describes how consumers rank different bundles of goods according to the levels of satisfaction or utility those bundles provide.

Horizontal Axis

In a graph or chart, the horizontal line along which the values of one variable are plotted or measured.

Vertical Axis

In graphing data, this is the y-axis, which is typically used to measure the dependent variable or show the scale of values in a chart.

Utility Function

A mathematical representation of how consumer preferences over a set of goods and services are ranked.