Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Course:
NOTE: Please consider for question b) that the two main pillars of human capital are Health and Education.
![The World Bank has launched a human capital project to promote economic growth in economies. This project proposes the construction of a human
capital indicator, an excerpt of which is as follows:
Economy Probability of
Expected years
Harmonized
Years of schooling
Adult
Proportion of children
Human
survival to 5
of education
learning results
performed as a function
survival
under 5 years old without
Capital Index
years
of learning
rate
stunting
(HCI)
U.S.A.
0,99
13,3
523
11,1
0,90
0,98
0,76
Chile
0,99
12,8
466
9,6
0,91
0,98
0,67
Brazil
0,99
11,7
408
7,6
0,86
0,94
0,56
Nigeria
0,90
8,2
325
4,3
0,65
0,56
0,34
China
0,99
13,2
456
9,7
0,92
0,92
0,67
a)
Explain the importance of human capital
b)
You are asked to classify the components in the two main pillars that comprise human capital and explain briefly
c) Select 2 economies from the table below, considering that the human capital factor equals the index presented, obtain the ratio and explain the
income differences using the Solow equations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd9c3169-4550-49e9-b005-59ea9bf39c03%2F59acabc3-561a-494d-bcfe-b8ecf4551911%2F0awmhyn_processed.png&w=3840&q=75)
Transcribed Image Text:The World Bank has launched a human capital project to promote economic growth in economies. This project proposes the construction of a human
capital indicator, an excerpt of which is as follows:
Economy Probability of
Expected years
Harmonized
Years of schooling
Adult
Proportion of children
Human
survival to 5
of education
learning results
performed as a function
survival
under 5 years old without
Capital Index
years
of learning
rate
stunting
(HCI)
U.S.A.
0,99
13,3
523
11,1
0,90
0,98
0,76
Chile
0,99
12,8
466
9,6
0,91
0,98
0,67
Brazil
0,99
11,7
408
7,6
0,86
0,94
0,56
Nigeria
0,90
8,2
325
4,3
0,65
0,56
0,34
China
0,99
13,2
456
9,7
0,92
0,92
0,67
a)
Explain the importance of human capital
b)
You are asked to classify the components in the two main pillars that comprise human capital and explain briefly
c) Select 2 economies from the table below, considering that the human capital factor equals the index presented, obtain the ratio and explain the
income differences using the Solow equations.
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