Technological change is more important to long-run economic growth than changes in capital. The easiest way for firms to gain access to new technology is through A. foreign direct investment. B. savings and investment. C. wars and civil strife. D. health and education.

Question

Social Studies

Jamari Friedman

23 July, 02:39

Technological change is more important to long-run economic growth than changes in capital. The easiest way for firms to gain access to new technology is through A. foreign direct investment. B. savings and investment. C. wars and civil strife. D. health and education.

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Answers (1)

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Donna Oliver · Answer 1

Answer: Option (A) is correct.

Explanation:

Technological change is a vital source for any economy to grow. It is considered to be more significant for long-run economic growth than changes in capital. The easiest way for any firm or organization to gain access to current technology is via FDI (Foreign Direct Investment). Foreign Direct Investment brings in several opportunities for firm and organizations such as opening up to the global competition and getting access other factors that might prove profitable for them.