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Chapter 20: Q. 28 (page 497)

Why is investing in girls鈥� education beneficial for growth?

Short Answer

Expert verified

Improves productivity and hence economic growth.

Step by step solution

01

Step1. Introduction

Economic growth is a quantitative phenomenon which tracks the growth of economy in terms of the rise of factors like GDP, Per capita income, etc.

02

Step2. Explanation

Investing in educating girls' increases the skilled labor availability, and improves their productivity. Higher productivity leads to increased economic activity and production. This further pushes the total goods and services produced, i.e. the GDP.

Education hence leads to human capital formation, thus improving GDP number.

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Most popular questions from this chapter

Assume there are two countries: South Korea and the United States. South Korea grows at 4% and the United States grows at 1%. For the sake of simplicity, assume they both start from the same fictional income level, $10,000. What will the incomes of the United States and South Korea be in 20 years? By how many multiples will each country's income grow in 20 years?

Education seems to be important for human capital deepening. As people become better educated and more knowledgeable, are there limits to how much additional

benefit more education can provide? Why or why not?

How do gains in labor productivity lead to gains in

GDP per capita?

An economy starts off with a GDP per capita of $5,000. How large will the GDP per capita be if it grows at an annual rate of 2% for 20 years? 2% for 40 years? 4% for 40 years? 6% for 40 years?

How is GDP per capita calculated differently from

labor productivity?
See all solutions

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