Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 19 - Part VI - Earnings and Discrimination - Questions for Review - Page 410: 2

Answer

Education is a type of human capital. Human capital is the total of investments in people.

Work Step by Step

Education is an expenditure of resources at one time to increase future productivity. Investing in education is linked to one person, and the linkage to a single person is what makes the investment human capital.
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