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Question 17 (7 points) a. How can an increase in human capital lead to an increase in GDP? Why might it not lead to an

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Question 17 (7 points) a. How can an increase in human capital lead to an increase in GDP? Why might it not lead to an increase in GDP? [4 points] 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? [3 points]

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