The skills embodied in workers through experience, education and on-the-job-training are known as human capital.
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What is human capital?</u></h3>
- Social scientists refer to personal qualities seen to be helpful in the manufacturing process as "human capital." It includes the education, health, and knowledge of the workforce.
- Individual incomes are significantly impacted by human capital. According to research, making investments in human capital pays off handsomely throughout youth and young adulthood.
- Through education and training, for instance, businesses can invest in human capital, enabling higher standards of quality and output.
Paul Romer, who created the current innovation-driven approach to comprehending economic growth, was jointly awarded the 2018 Nobel Prize for Economics as a result of his conceptualization and modeling work incorporating Human Capital as a crucial aspect.
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A vertical as curve means the level of aggregate supply (or potential GDP) will determine the real GDP of the economy, no matter the level of aggregate demand.
In general, economic process is a condition in which income increases from the emergence of an increase in the production of goods and services. However, this increase in income has not been compared to the expansion in population. this will be seen from the results of improvements in various fields, like technology.
In its development so far, there are various theories of economic growth. This theory itself appears plenty to explain the growth cycle as well as the factors that directly influence an increase in the national economy by experts. Among the various theories that have emerged, here are a number of them:
- Neoclassical Theory
- Classical Theory
- Historical Theory
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Answer: c. Difference in budgeted costs and actual costs of fixed overhead items.
Explanation:
If a company uses a Predetermined rate for Manufacturing Overhead this means that they have budgeted a certain cost of overhead that they believe will be sufficient for production. This is usually possible for fixed overhead items.
The Variance therefore would be the difference between this budgeted figure and the actual figure for the fixed Overhead items.
Answer: $61,697.90
Explanation:
GIVEN the following ;
Membership bond = $20,000
Monthly membership due= $250
Annual percentage rate(APR) = 6% = 0.06
monthly rate (r) = 0.06 ÷ 12 = 0.005
Payment per period(P) = $250
Using the formula for present value of ordinary annuity:
PRESENT VALUE (PV) =
P[(1 - ((1 + r)^(-n)) ÷ r]
$250 [ 1 - ((1 + 0.005)^-360))÷0.005]
$250 [( 1 - (1.005)^-360)÷ 0.005]
$250 × [0.83395807196 ÷ 0.005]
$250 × 166.791614392335
PV = $41,697.90
Membership bond + present value
$20,000 + $41,697.90
= $61,697.90
