Ch. 31 begins with the Higher Education Act that President Johnson signed into law in 1965. The summary titled, "Bring it Home" refers to the Act as an investment in human capital.

• (a) As far as economic indicators can/does predict, is education a benchmark indicator of the nation's economic wealth? (ref. 31.4) Explain your response based on the impact of higher education and training on the economy from 2020 - 2022 (1st quarter). Also consider the labor market pre and post pandemic and the role of human capital in the labor market. Include one relevant example to support your explanation. (ref. BEA report on pandemic programs)

• (b) Within the GDP framework, briefly explain how investments in human capital affected the overall U.S. GDP from 2020 - 2022 (1st qtr.). Include one example within each component you list to further clarify your explanation. (ref. BEA report on P/I)
• (c) Based on the parameters of the public investments in physical and capital investments, briefly explain whether it is it fiscally responsible for the U.S. govt. to balance higher education spending and fiscal responsibility? Include one macro economic reason to support your response. (ref. BEA reports)

• (d) consider the impact of borrowing to fund education on the deficit (ref. ch. 31.4), briefly explain whether long term economic growth (yr' 2030 & beyond for example) is tied to investments in human capital. Include one macro economic reason to support your response.