6. Which of the following changes will NOT result in economic growth? a. improvements in...
6. Which of the following changes will NOT result in economic growth?
a. improvements in technology
b. increases in capital
c. increases in consumption spending
9. Which of the following is NOT an example of investment in human capital?
a. on-the-job training
b. apprenticeship
c. acquisition of obsolete skills
Homework Answers
Answer 6. increase in consumption spending
Reason- According to production function, improvement in technology, increase in capital leads to economic growth. Savings instead of consumption is generally thought to lead to economic growth due to its relation with investment.
Answer 7 c. Acquisition of obsolete skills.
Reason- Human Capital will not improve by investing in obsolete skills as they are of no use now. Instead on the job training and apprenticeship helps improving the skills.
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