Which statement is correct?

Question

Quizplus · Accepted Answer

To attain a permanently higher rate of growth in GDP per capita, a nation may have to make sacrificing choices like investing in infrastructure, education, or technology which may lead to higher production in the future but require sacrificing some current consumption, thus making option A the correct statement.

Answer: None 
 Both statements B and C are incorrect. Option B is incorrect as a higher GDP growth rate does not always mean better living standards for the people. Similarly, option C is incorrect because becoming rich requires overcoming many structural barriers, including low-income levels, poor institutions, and lack of infrastructure, which are not easy to overcome.

Answer: D 
 Human capital accumulation technology helps increase the productivity of labour, leading to higher economic growth. Thus, a more efficient human capital accumulation technology leads to a higher growth rate of per capita output. Thus, option D is incorrect.

Which Statement Is Correct