Question : Which type of capital is to be built up with higher incomes?
Option 1: Human capital
Option 2: Physical capital
Option 3: Both of the above
Option 4: None of the above
Answer (1)
22nd Jan, 2024
Correct Answer: Both of the above
Solution :
Individual education spending allows for the development of human capital in that person.
It boosts labor productivity and efficiency. That is why investing in education is just as effective as investing in physical capital.
Hence option c is the correct answer.
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