Changes in basic education. Assume thorn is an increase in the basic skills, Ü,

Question

Changes in basic education. Assume thorn is an increase in the basic skills, Ü, that each child receives. This may bo because of the introduction of universal primary schooling, for example. In the quantity/quality model in Section B.4, what effect does this have on the amount of education spending, F., that parents do? Does this affect tho peak fertility rate? Does this affect the ability of a country to transition to sustained growth? A changing land share.12 In Section H.3.3 we mentioned the role of structural transformation in contributing to sustained growth. Consider an economy that produces two goods, an agricultural good and a manufacturing good. An amount VA of the agricultural good can bo produced using land and labor according to where beta

Explanation / Answer

U is the increase in basic skills that kids recieve,

E is the amount of money that parents spend on education

Ofcourse it will affect the peak fertility rate, If parents spend more money for kids education they are unlikely to have too many children,

This was clearly reflected in Indian economy. In last generation parents with 10 kids were not uncommon, but now most of them have only 2 children.

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