We can increase our rate of economic growth by
A)devoting more of our output to capital goods.
B)devoting more of our output to improving our technology.
C)devoting more of our output to improving the quality of our labor force.
D)all of the choices are true.

Question

Quizplus · Accepted Answer

All three choices can contribute to an increase in the rate of economic growth. Devoting more output to capital goods, such as machinery and equipment, can increase the productivity of workers and lead to higher levels of output. Improving technology, through investments in research and development or adopting new technologies, can also increase productivity and efficiency. Finally, improving the quality of the labor force, through education and training programs, can enhance the skills and abilities of workers and make them more productive. By pursuing all three of these strategies, a country may be able to achieve sustained economic growth over time.

We Can Increase Our Rate of Economic Growth by