ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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investments in capital goods
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updating factories
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high GDP per capita
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None of the above
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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: -Capital investment as percent of GDP The average value for Germany during that period was 23.52 percent with a minimum of 18.56 percent in 2009 and a maximum of 32.7 percent in 1970. The latest value from 2021 is 23.29 percent. For comparison, the world average in 2021 based on 153 countries is 24.18 percent.
Detailed explanation-3: -The formation of human capital raises production levels and leads to economic growth by adding to the GDP. Knowledgeable and skilled workers can make better use of resources at their disposal.