Knowee
Questions
Features
Study Tools

High growth in the rich countries in the post-WWII era is most likely due toGroup of answer choicesa high savings rate.high capital accumulation.technological progress.high consumption rates

Question

High growth in the rich countries in the post-WWII era is most likely due toGroup of answer choicesa high savings rate.high capital accumulation.technological progress.high consumption rates

🧐 Not the exact question you are looking for?Go ask a question

Solution

The high growth in rich countries in the post-WWII era is most likely due to technological progress. Here's why:

  1. High Savings Rate: While a high savings rate can contribute to economic growth, it is not the primary driver. Savings can be used for investment, but it doesn't guarantee growth.

  2. High Capital Accumulation: This can also contribute to growth, but again, it's not the primary driver. Capital accumulation refers to the increase in physical assets like machinery, buildings, or other types of capital goods. While these can enhance productivity, they don't necessarily lead to high growth.

  3. Technological Progress: This is the most likely answer. Technological progress can lead to significant increases in productivity, which in turn can drive economic growth. In the post-WWII era, many rich countries experienced significant technological advancements, which helped fuel their economies.

  4. High Consumption Rates: High consumption rates can stimulate economic growth, but they can also lead to problems like inflation and debt. Moreover, consumption is a result of growth, not necessarily a cause.

So, while all these factors can contribute to economic growth, technological progress is the most likely primary driver of high growth in rich countries in the post-WWII era.

This problem has been solved

Similar Questions

Towards the end of the twentieth century, some of the world's more affluent countries experienced robust growth. Which of the following is not linked to high growth performance?Question 10Select one:a.encouragement of competitive behaviorb.private sector research and developmentc.strict regulations in labor markets, for example strict employment protection legislationd.liberal trade policies

All of the following are sources of economic growth except:Question 1Select one:a.increases in human capital.b.an increase in the savings rate.c.an increase in consumption spending to stimulate production.d.increases in physical capital.

Economic Growth

Which of the following factor has changed statistics of fastest growing economies of world in previous year in the most prominent way?Select one:a.Cold Warb.New World Orderc.COVID-19d.CPEC

Factors affecting Economic Growth

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.