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26 December, 00:45

A nation can achieve higher economic growth if: Select one: a. it devotes more resources to research and development. b. the productivity of labor declined c. taxes are imposed on investment in capital. d. more resources are allocated to consumption goods.

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  1. 26 December, 01:07
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    The correct answer is A

    Explanation:

    Economic growth is defined as the rise in the capacity of the economy for producing or manufacturing the goods and services as compared from one year to another.

    And the economic growth is determined in terms of GNP (Gross National Product) or in terms of GDP (Gross Domestic Product).

    So, if the nation want to accomplish the higher level of economic growth, then the nation should devote more amount of resources in R & D (research and development).
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