With few exceptions,the most important element of long run growth for industrialized nations is

Question

Quizplus · Accepted Answer

Enhancing the technology embodied in the capital stock is the most important element of long run growth for industrialized nations. This is because it enables the economy to produce more output with the same or less inputs, leading to increased productivity, competitiveness, and higher living standards. The other options are important, but not as critical as improving technology.

With Few Exceptions,the Most Important Element of Long Run Growth