How can an increase in human capital lead

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a. How can an increase in human capital lead to an increase in GDP? Why might it not lead to an increase in GDP?

b. Distinguish carefully between private and social benefits and costs of education. What economic factors give rise the wide divergence between private and social benefit-to -cost valuations in most developed countries? What is the role of government in this case?

Reference no: EM133062877

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