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2. The Micro & Macro Effects of Education (10 points) How much does a worker with 18 years of schooling earn relative to someone with
2. The Micro & Macro Effects of Education (10 points) How much does a worker with 18 years of schooling earn relative to someone with no schooling? Compute and explain the fraction of his/her wage that can be attributed to his/her human capital after 18 years of schooling. Let us consider two identical countries namely 1 and 2 that only differ in their average years of education: 9 years in Country 1 and 18 years in Country 2. Using the above Solow growth model, how much higher the income per worker in Country 2 is expected to be compared to Country 1
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