If an economy grows at an annual rate of 5% of which 3% is deemed to be due to improvement in the productivity of labour and capital combined the remaining 2% is generally attributed to?

By: |Published on: Aug 7|Categories: Economics WAEC| 0 comments

A. the size of population
B. technical progress
C. the environment
D. the amount of natural resources

Correct Answer:

Option B – technical progress

Users Also Read These:

SEE ALSO  If price of yams decreases from N15.00 per tuber to N13.50 and the quantity supplied decreases by 20%. What is the elasticity of supply?

Copyright warnings! Do not copy.