Human labor is essential for economic growth. A highly educated labor force further stimulates economic growth. Additionally, a highly educated labor force can easily adapt to new working environments and conditions. In view of that, it is evident that education serves as the driving force for innovation of new products and services. Educated workers exchange ideas in the work place and come up with new ideas that help in the growth of the economy.

MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter7: Economic Growth: Theory And Policy
Section: Chapter Questions
Problem 2DQ
icon
Related questions
Question

Human labor is essential for economic growth. A highly educated labor force further stimulates economic growth. Additionally, a highly educated labor force can easily adapt to new working environments and conditions. In view of that, it is evident that education serves as the driving force for innovation of new products and services. Educated workers exchange ideas in the work place and come up with new ideas that help in the growth of the economy

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MACROECONOMICS
MACROECONOMICS
Economics
ISBN:
9781337794985
Author:
Baumol
Publisher:
CENGAGE L
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc

Expert Answers to Latest Homework Questions

Q: What jazz genre embodied the practice of reusing older, well-known chord progressions but playing…
Q: Shim Company presents its statement of cash flows using the indirect method. The following accounts…
Q: Select the genres most used by impressionist composers. A. Tone poem B. Symphony C. Character piece…
Q: The expressionists rejected A. Conventional beauty B. Reality C. Imagination D. Morality
Q: In the ______, composers embraced dissonance as an aesthetic principle and created alternative…
Q: During his lifetime,_______ was considered the greatest composer of the 20th century. A. Stravinsky…
Q: Identify and describe two cases where a distributed load can be found in the real world: one as a…
Q: After a lot of hard work, a studio releases a new video game. The studio believes that the game will…
Q: Select all the techniques used by impressionist composers to expand the harmonic palette: A.…
Q: Diagnolize the following matrix A. A = ([-3,10,-6],[0,7,-6],[0,0,1])   I believe D should be based…
Q: What is NOT an early influence of jazz music? A. Marching band music B. The blues C. Minstrel music…
Q: Problem 5 Stability Small floating devices such as kayaks are marginally stable to lateral…
Q: Problem 4 Buoyancy A lock of mass 30 kg and volume 0.025m² is allowed to sink in water as shown…
Q: Problem 2: Hydrostatics The Uniontown Dam on the Ohio River uses a Tainter gate to control water…
Q: __________ was an admirer of Richard Wagner. A. Stravinsky B. Schoenberg C. Copland D. Debussy
Q: _________, was the capital of impressionism. A. Paris B. Vienna C. Berlin D. Milan
Q: Select all the music characteristics of Bebop. A. Music with complex harmonies and unpredictable…
Q: 50 N PROBLEM 8.122 A cable is placed around three parallel pipes. Knowing that the coefficients of…
Q: The emancipation decree in Brazil, also called Golden Law, was proclaimed in: A. 1865 B. 1888 C.…
Q: B C 100 kg 30° m PROBLEM 8.118 Bucket A and block C are connected by a cable that passes over drum…
Q: Hi please write one paragraph on the below topicsa.  Name some depressants and explain what do…