The Concept of Human Capital Describes

question 113

Multiple Choice

The concept of human capital describes

• A) human skills, that is, the quality of labor.
• B) human population, that is, the quantity of labor.
• C) the number of machines per employed worker.
• D) the number of workers per operating machine.
• E) the number of machines (capital) that have been produced by people (humans).

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Definitions:

Neoliberal Economic Theories

A set of economic principles advocating for free markets, privatization, deregulation, and a reduced role of the state in the economy.

Free Trade

An economic policy that allows imports and exports among countries with minimal governmental restrictions or tariffs.

Deregulation

The process of reducing or eliminating government oversight and restrictions in an industry to encourage increased competition and efficiency.

Economic Actor

An individual or entity that makes decisions regarding the production, distribution, and consumption of goods and services.