Asked by
Riley Crawford
on Nov 26, 2024Verified
Which of the following factors contributes to the weak economic growth in DVCs?
A) an increase in labor productivity in DVCs
B) a decrease in international debts of DVCs
C) an increase in the rate of saving in a DVC
D) a decrease in the prices of DVC natural resources
Economic Growth
An increase in the production of goods and services in an economy over a period of time, typically measured by the change in Real GDP.
Labor Productivity
A measure of economic performance that compares the amount of goods and services produced (output) with the number of labor hours used to produce them.
Natural Resources
Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, and water bodies.
- Understand the primary challenges that hinder the achievement of increased economic growth and development in developing nations.
Verified Answer
DP
Learning Objectives
- Understand the primary challenges that hinder the achievement of increased economic growth and development in developing nations.