Chinaʹs population is about 1.5 billion, while the population of the United States is about 300 million. This fact means that China has much more human capital than the U.S. does. True or false? Explain your answer.

Question

Quizplus · Accepted Answer

Population can measure the quantity of a nationʹs labor resource, but the population numbers donʹt tell us anything about skills that this labor force obtained from education, on-the-job training, and work experience, which are called human capital. Thus, the population numbers in the statement only tell us that China is likely to have more labor than the United States, but it does not necessarily mean that it also has more human capital.

Chinaʹs Population Is About 1