Question

according to growth accounting studies, a country would achieve better results by promoting select one: a. exports b. research. c. research and education. d. education.

Answer 1

A country would achieve better results by promoting research and education. Education plays a crucial role in providing skilled workers and driving economic growth. Policies that support investments in human capital, research, and education help in shifting aggregate supply curves to the right, fostering economic growth in high-income countries.

Step-by-step explanation:

A country would achieve better results by promoting research and education. According to growth accounting studies, policies that support heavy investments in human capital, such as building up primary-level education and expanding secondary-level education, contribute to economic growth. Education not only provides skilled workers but also helps in creating, investing in, and applying new technologies for economic advancement. Research and education are essential in shifting the aggregate supply curves to the right, enhancing economic growth in high-income countries.

Answer 2

Growth accounting studies suggest that a country would benefit most from promoting research and education, as they contribute substantially to economic growth by building skilled workforces and fostering technological innovation.

Step-by-step explanation:

According to growth accounting studies, a country would achieve better results by promoting research and education. Growth accounting is a method in economics to estimate the contribution of different factors to economic growth and to foresee future growth. Investments in education build a more skilled workforce, which is instrumental in creating, applying, and investing in new technologies. Research enhances technological advancements and innovation, contributing to shifting aggregate supply curves to the right, thus increasing economic output.

In high-income countries, continued investment in a well-educated workforce capable of driving technological innovation is essential. These countries craft fiscal policies aimed at investment in human capital, technology, and physical infrastructure, while also maintaining economic stability through monetary policy. This approach helps to foster a market-oriented environment supportive of domestic and international competition. Education, in particular, doesn't merely provide redistribution but also facilitates economic growth and equality by equipping low-income families with valuable skills that contribute to the economy.