ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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investment in human capital has little effect on GDP
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GDP is only affected if workers do a bad job
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most workers want to keep their jobs and don’t care about GDP
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GDP may go down because poorly trained workers do a bad job
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Detailed explanation-1: -Human capital affects economic growth and can help to develop an economy by expanding the knowledge and skills of its people. The level of economic growth driven by consumer spending and business investment determines the amount of skilled labor needed.
Detailed explanation-2: -In most countries, human capital determines the rate of development, economic, technological, and scientific progress. Human capital leads to more innovations in the areas of production and other related activities. Innovation leads to more growth.
Detailed explanation-3: -In general, an increase in capital resources can impact the economy positively. That’s because a higher investment in capital resources usually results in a more productive output for companies.
Detailed explanation-4: -Investing in people through nutrition, health care, quality education, jobs and skills helps develop human capital, and this is key to ending extreme poverty and creating more inclusive societies.