Earning a doctorate in environmental economics is an example of

A) a Pareto good.
B) a compensating differential.
C) economic income.
D) an investment in human capital.

Economic Income

The total value of all income received by an individual or entity, including both earned income and investment income.

Human Capital

The skills, knowledge, and experience possessed by an individual viewed in terms of their value or cost to an organization or country.

Compensating Differential

The difference in wages that compensates workers for undesirable aspects of a job, such as long hours or dangerous conditions.