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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Pop Quiz 2

Pop Quiz 2

Q Pop Quiz #2 for Ch 25 and 26 1. Explain why today's Americans are so fortunate to be born in the U.S. after watching Mankiw's Why It Matters: The Key to a Long and Prosperous Life at the beginning of ch25. 2. Based on ConceptClip: Human Capital in ch25, explain why getting an education is an excellent example of human capital investment. 3. From Table 1 in ch25 as attached, answer the following questions. a. Which country is the richest at the end of the period, and how do you know? (You must use the end-of-period data to answer this.) b. Which country is advancing fastest, and how do you know? c. Which country would likely see the greatest benefit from the Catch-up Effect, and how do you know? 4. In Video Problem Walk-Through: Identifying the Determinants of Productivity in ch25, Dave's human capital is the certificate he earned, and technological knowledge is an engine manual he uses. Describe human capital and technological knowledge and compare the difference using this example. 5. What is the difference between your bank and a piggy bank based on Mankiw's Why It Matters: Is Your Bank Just a Giant Piggy Bank? at the beginning of ch26?

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1 life expectancy and the ability to have an education and more money causes them to be more fortunate today in an advanced economy like the United States a typical person can expect to live about 80 years. 2 it increases the productivity of a person and how great they will be