Question

A nation's wealth has its origins in its resources of production: natural, human, and capital resources. What is an efficient way for a nation to increase its wealth and income?

a) It can import millions of workers in order to increase its workforce (human resources).

b)It can increase its labor productivity by investing in human capital.

c)It can conquer other nations and take their resources of production from them.

d)It can use tariffs and embargoes so that it avoids competition.

Answer 1

im pretty sure it B) it can increase it's labor productivity by investing in human capital.

Answer 2

The correct answer B) it can increase its labor productivity by investing in human capital.

An efficient way for a nation to increase its wealth an income is it can increase its labor productivity by investing in human capital.

A nation’s wealth has its origins in its resources of production: natural, human, and capital resources. An efficient way for a nation to increase its wealth an income is it can increase its labor productivity by investing in human capital.

In modern-day economies, a nation can invest in its people in order to improve their productivity. A better-prepared labor force will be able to produce more an better. Trade will improve and with the use of technology, the nation’s resources will be a better source of income.