ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Increased unemployment
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Increased interest rates
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Increased education and training for workers
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Increased money supply
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Detailed explanation-1: -Both consumer spending and business investment not only lead to more economic growth but also play a prominent role in determining the level of training and development of workers.
Detailed explanation-2: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
Detailed explanation-3: -Lower unemployment. With higher output and positive economic growth, firms tend to employ more workers creating more employment.
Detailed explanation-4: -Education has been referred to as human capital due to its substantial contribution to economic growth, and public expenditure on education has been referred to as an investment in man or human capital.
Detailed explanation-5: -Accumulation of capital stock. Increases in labor inputs, such as workers or hours worked. Technological advancement. 01-Jun-2015