Which of the following most accurately states the importance of technology as a source of economic growth for less-developed countries?
a. Restraints imposed by the slow advancements in modern technology have severely constrained the growth of less-developed countries.
b. If modern technology was the only requirement for economic growth, less-developed countries would be growing rapidly.
c. Most less-developed nations have the necessary complementary factors of production to make good use of modern technology if they could just afford the complex machines.
d. While modern technology has increased the income levels in less developed countries, it has been unable to improve living standards.
B
You might also like to view...
Product differentiation
A) may allow firms to price above a competitive level. B) generates value as consumers value more choices. C) depends on perceived differences between products. D) All of the above.
"Tariffs are necessary for reasons of national security." Discuss the validity of this statement