Relationship Between Human Capital and Standard of Living

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Which factor does Gary Becker highlight as the most crucial in creating wealth and growth in a modern economy?

In the context of the text, which country is mentioned as an example of being rich in natural resources but poor in human capital?

What did Gary Becker suggest the economy should be called based on his view on human capital?

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Explore the strong correlation between a country's level of human capital and its standard of living, as well as the impact of natural resources on living standards. Learn about the influence of factors like education and skills on a nation's wealth and prosperity.

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