Asked by Molly Walsh on May 05, 2024
Verified
If developed economies want to grow faster,they can do so with their existing technologies.
Existing Technologies
Currently available technological tools, systems, or methods used in production or services.
- Understand the impediments and merits of trade liberalization and free trade strategies in developing nations.
- Understand the role of natural resources and human capital in a country's economic advancement.
Verified Answer
MJ
Maritzza JeronimoMay 07, 2024
Final Answer :
False
Explanation :
While existing technologies may continue to advance and improve, it is unlikely that they alone will be enough to significantly increase economic growth in developed economies. Additional innovation and investment in new technologies, as well as changes in policy and infrastructure, may be necessary for sustained growth.
Learning Objectives
- Understand the impediments and merits of trade liberalization and free trade strategies in developing nations.
- Understand the role of natural resources and human capital in a country's economic advancement.
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