Which of the following factors contribute to economic growth? Group of answer choices an increase in the standard of living a decrease in the productivity of labor an increase in the proportion of the population that is college educated an increase in the average wage rate paid to workers

Question

Fatima Ortiz

Business

24 August, 09:17

Which of the following factors contribute to economic growth? Group of answer choices an increase in the standard of living a decrease in the productivity of labor an increase in the proportion of the population that is college educated an increase in the average wage rate paid to workers

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Answers (1)

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June Hubbard · Answer 1

an increase in the proportion of the population that is college educated

Explanation:

Economic growth refers to an increase in the gross domestic product of an economy owing to an increase in the level of output.

An increase in the national output of goods and services results out of increase in the productivity and capability of the workforce.

In the given case, when the graduate population of a nation increases, it would lead to an increase in the capacity owing to knowledge increase in the workforce.

Due to this, the nation shall move towards full employment level as jobs start getting filled up by the best suited person.

Productivity and production rises as a consequence and thus the national output rise increases the gross domestic product.