Answered: Because there is not a precise measure…

Because there is not a precise measure for human capital, the World Bank data and most economists in the field use what information to proxy for human capital?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 8P

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Question

Because there is not a precise measure for human capital, the World Bank data and most economists in the field use what information to proxy for human capital?

a) population size

b) the stock of physical capital

c) the amount of oil produced in the economy

d) educational attainment

Expert Solution

Step 1

There is an absence of precise indicator for human capital.

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