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love history [14]
4 years ago
5

Which of these statements is consistent with the insights from the Solow Growth model and New Growth Theory? Select one: a. Low

income countries have to educate their people first before they can grow. b. It is impossible for low income countries to break the poverty trap on their own. c. Poor nations that have high levels of investment, plus a strong incentive system, can rapidly increase their standard of living. d. Today's poor nations will not be able to catch up with the already rich nations Clear my choice Question 23 Not yet answered Points out of 1.00 Not flaggedFlag question Question text The national spending equation is equal to:
Social Studies
2 answers:
ankoles [38]4 years ago
6 0

Answer:

<u>Option-(A,C): </u>

  1. Poor nations that have high levels of investment, plus a strong incentive system, can rapidly increase their standard of living.
  2. Low income countries have to educate their people first before they can grow.

Explanation:

  • In the modern times the desire for having more and developing the different factors relating new invention, high level of productivity, and the increase level of skill sets that people acquire to have a standard of productivity can lead to a more stronger form of economy. As, it does not depend upon the countries over all population, as it require the optimum number of people irrespective of there genders to start new ventures, as they look for more incentives and work for the increase level of quality products been produced.
quester [9]4 years ago
4 0

Answer:

a. Low income countries have to educate their people first before they can grow.

Explanation:

Solow's growth model explains how a country's economy can grow over time, through investments in capital accumulation, in the growth of the workforce and in the development of technologies. In this model, the growth of the workforce and the development of new technology are directly related to the level of education that a country can provide. Only with quality education, a country will be able to generate a skilled labor force with efficient workers, among which will be researchers and creators of new technologies.

It is at this point that we can relate Solow's economic growth to the new growth theory.

The new theory of growth states that economic growth in the country will only happen if the country invests in knowledge and innovation, through the establishment of an efficient education system that empowers workers.

With that, we can conclude that the relationship of these two theories determines that low-income countries need to educate their people first before they can grow.

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