According to UNESCO reporting, "Governments in North America and Western Europe invested the highest shares of national resources in education: 5.6 percent of GDP." As a result, we would expect ________, all else held constant. www.worldometer
info A) higher economic growth rates in these countries compared to other countries
B) lower economic growth rates in the countries because fewer resources can be devoted to innovation
C) lower research and development spending and lower economic growth unless the governments can raise taxes
D) lower saving rates and slower economic growth
A
Economics
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Positive statements:
A) imply value judgments must be made. B) are factual and can be tested. C) deal with what ought to be. D) are dealt with primarily in microeconomics.
Economics
Why do we not count the value of intermediate goods and services in gross domestic product? Does the value of intermediate goods and services show up in gross domestic product? If so, how?
What will be an ideal response?
Economics