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What steps can a nation take to achieve economic growth? 1. invest in physical capital 2. engage in international trade 3. focus on increasing imports 4. invest in human capital 5. reduce the defense budget

Bethany Evans

in Business

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Ashley Howard on November 16, 2018

The correct answer should be 2 and 4. The physical capital investment does not necessarily mean that there will be an increase in production, while the import increase is bad for the economy because what you want is to export. The reduction of the defense budget does not make your economy grow. The investment in human capital means that you help to educate people so that they can work better and produce more and come up with new things, and participate in international trade makes your economy stronger.


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