In 1820, Mexico had a higher real GDP per capita than did Japan. Yet now Japan is one of the richest countries in the world and Mexico is poor. Japan's high rate of economic growth can likely NOT be explained by a high:

Question

Quizplus · Accepted Answer

The question asks for the factor that CANNOT explain Japan's high rate of economic growth, so we must eliminate the choices that could potentially contribute to Japan's success. A) Investment in physical capital, B) Investment in human capital, and C) Investment in technological progress are all factors that could have contributed to Japan's economic success. However, it is unlikely that a high level of government interference would lead to sustained economic growth, as excessive regulation and bureaucracy can stifle innovation and entrepreneurship. Therefore, D) Level of government interference is the best choice.

In 1820, Mexico Had a Higher Real GDP Per Capita