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Economic growth in country X will necessarily have to occur if
  • a)
    There is technical progress in the world economy
  • b)
    There is population growth in X
  • c)
    There is capital formation of X
  • d)
    The volume of trade grows in the world economy
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Economic growth in country X will necessarily have to occur ifa)There ...
A country’s economic growth is reflected through capital formation, which in turn encourages private enterprises in enhancing the growth of a country’s economy.
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Economic growth in country X will necessarily have to occur ifa)There is technical progress in the world economyb)There is population growth in Xc)There is capital formation of Xd)The volume of trade grows in the world economyCorrect answer is option 'C'. Can you explain this answer?
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