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Question 1 (10 marks): a) Explain what is meant by the internal rate of return to education, and how it is used in the investment

Question 1 (10 marks): a) Explain what is meant by the "internal rate of return" to education, and how it is used in the investment in human capital decision. (5 marks) b) "You can't teach an old dog new tricks - in fact, you shouldn't." Do you agree with this statement, why or why not? (5 marks)

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