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International Relation & Global Economy

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Added on  2021-04-21

International Relation & Global Economy

   Added on 2021-04-21

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Running head: INTERNATIONAL RELATION & GLOBAL ECONOMYInternational relation & global economyName of the studentName of the UniversityAuthor note
International Relation & Global Economy_1
1INTERNATIONAL RELATION & GLOBAL ECONOMYTable of ContentsAnswer 1:.........................................................................................................................................2Answer 2:.........................................................................................................................................2a)..................................................................................................................................................2b)..................................................................................................................................................3c)..................................................................................................................................................3Answer 3:.........................................................................................................................................3Answer 4:.........................................................................................................................................3Answer 5:.........................................................................................................................................4a)..................................................................................................................................................4b)..................................................................................................................................................5c)..................................................................................................................................................6Reference:........................................................................................................................................7
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2INTERNATIONAL RELATION & GLOBAL ECONOMYAnswer 1:Human capital is acknowledged as the skilled labour force, who is productive in nature toadd values and output to the existing product stock (Fitzsimons, 2015). There is differencebetween human capital and total number of workers available for work in the market because, itmay so happen that all the workers available in the workforce may not be skilled and unless theyare not skilled they cannot be called human capital (Bidwell et al. 2015). Three ways to increase human capital are as follows (Lutz, Butz & Samir, 2017):1.Enhancing education quality to increase participation rate2.Introducing vocational training for increasing marginal productivity3.Rise in investment through investing in infrastructure to increase the demand of theskilled labourYes, it is true that an increase in labour force can lead to increase in human capital becausewith rise in labour force, there will be availability of more skilled labour in market (Ehrenberg &Smith, 2016). It will lead to rise in the number of skilled labour available. However, there is alsopossibility that though there is rise in labour force, all of the new labours are unskilled in nature.In this scenario, there will be no rise in human capital though there will be rise in overall labourforce. Answer 2:Rule of 70 argues that to find the number of years of doubling of an invested amount, 70must be divided by the rate of return (Donnermeyer, 2015). Applying this rule to the given data,years of doubling is as follow:a)Rate of return is 2%
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