According to new growth theory, _______ is advocated as a critical component of economic growth.
A)government spending
B)new equipment
C)access to Federal natural resources
D)education

Question

Quizplus · Accepted Answer

According to new growth theory, education is considered a critical component of economic growth as it leads to an increase in human capital, which in turn increases labor productivity and innovation. The more educated a population is, the more skilled they are at producing goods and services, which ultimately leads to economic growth. Therefore, option D (education) is the best choice.

According to New Growth Theory, _______ Is Advocated as a Critical