High growth in the rich countries from 1985 to 2014 was most likely due to
A)a high savings rate.
B)high capital accumulation.
C)technological progress.
D)high consumption rates.
E) monetary policy.

Question

Quizplus · Accepted Answer

Technological progress played a significant role in the high growth of rich countries during the period of 1985 to 2014. The advancements in technology led to increased productivity, efficiency, and innovation, allowing for sustained economic growth. While the other factors listed may have contributed to growth to some extent, technological progress was the primary driver.

High Growth in the Rich Countries from 1985 to 2014