According to Solow's Estimate, Out of the Average Annual Economic

question 5

Multiple Choice

According to Solow's estimate, out of the average annual economic growth rate of 2.9% for the U.S.from 1909 to 1949, how much was attributable to the accumulation of capital?

• A)0)12%
• B)0)32%
• C)0)75%
• D)1)22%
• E)1)55%

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Definitions:

Industrial Development

The process of building up a country's capacity to process raw materials and manufacture goods for consumption or export.

Canadian Labor Law

The body of laws regulating employment, unions, and collective bargaining in Canada.

Decentralization

The distribution of decision-making powers and responsibilities away from a central authority to regional or local authorities or to individual units within an organization.

Business Flexibility

The ability of a company to adapt to changes in the market or industry, altering operations or structures to meet new challenges.