Final answer:
The correct answer is option A. The policy that would discourage growth in real GDP per capita is high taxes on companies spending on new capital formation, as this deters investment critical for economic growth.
Step-by-step explanation:
Economic growth is driven by a combination of factors, including investments in physical capital, human capital, and technology within a market-oriented environment. When discussing public policies that might discourage growth in real GDP per capita, it is essential to look at how these factors are encouraged or hindered by government actions. In this context, factors that are conducive to economic growth include the promotion of education and training programs for workers (human capital deepening), incentives for capital formation, and rewards for companies investing in new technologies (technological gains), as these all represent the deepening of human and physical capital, as well as the advancement of technology.
However, option A, which refers to 'high taxes on companies spending on new capital formation' stands out as a policy that could discourage growth in real GDP per capita. High taxes on capital investment can act as a deterrent to business spending on new infrastructure or equipment, effectively slowing down the deepening of physical capital—that is essential for long-term growth. Such taxes can reduce the incentive for businesses to invest in new capital, hence potentially slowing the rate of economic growth.
In summary, among the provided options, the one that would likely discourage the growth of real GDP per capita is: A. high taxes on companies spending on new capital formation.