Research Suggest That the Relatively Higher Rate of Growth of Output

question 45

Multiple Choice

Research suggest that the relatively higher rate of growth of output per capita in rich countries between 1985 and 2009 was the result of which of the following?

• A) An increase in the saving rate.
• B) An increase in the rate of population growth.
• C) A decrease in the saving rate.
• D) An increase in the rate of technological progress.
• E) An increase in capital per effective labour.

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Definitions:

Diffusion

The process by which a technological innovation, cultural trend, or new idea spreads through a population or society.

Innovation

The act of introducing something new or improving an existing product, service, or process to enhance productivity or create value.

Entrepreneurs

Individuals who create new businesses, bearing most of the risks and enjoying most of the rewards.

Innovators

Individuals or organizations that introduce new ideas, methods, or products, often leading change and development within industries.