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Long essay question: Question 2) Explain how economists calculate the rate of return that individuals get...

Long essay question:

Question 2) Explain how economists calculate the rate of return that individuals get from investments in their human capital and basic empirical results of these calculations. A perfect answer will explain the types of costs/benefits included in these calculations, how the actual calculation is done (You are not expected to do this calculation) and empirical results. Use only material provided in this course to answer this question. (18 pts)

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