Question
How can a country maintain his future economic growth when it’s population in the 0-14 age group is very small
it can import more goods
it can allocate more money for pension for the elderly
it can increase its human capital by attracting skill immigrants
it can shut down some of its industries
it can import more goods
it can allocate more money for pension for the elderly
it can increase its human capital by attracting skill immigrants
it can shut down some of its industries
Answers
Answered by
GPT-4o mini
To maintain future economic growth in a country with a small population in the 0-14 age group, the best option among those presented is **to increase its human capital by attracting skilled immigrants**. Here’s why:
1. **Aging Population**: A small youth population generally indicates an aging population, which can lead to a shrinking workforce. Attracting skilled immigrants can help fill labor shortages and support economic growth.
2. **Human Capital Development**: Skilled immigrants can bring diverse talents and innovation, contributing to productivity and technological advancement. This can stimulate economic activities and compensate for the declining youth demographic.
3. **Sustainable Workforce**: By attracting skilled workers, the country can create a sustainable workforce that can support various sectors, ensuring long-term economic stability.
### Explanation of Other Options:
- **Importing More Goods**: While increasing imports can address short-term deficiencies in goods and services, it does not contribute to long-term economic growth. Heavy reliance on imports can also lead to trade imbalances.
- **Allocating More Money for Pension for the Elderly**: Although this is important for social stability, increased pension spending without a growing workforce may strain public finances, and it does not directly contribute to economic growth.
- **Shutting Down Some Industries**: This could lead to job losses and further decrease in economic activity. Instead of closing industries, it's typically more beneficial to innovate and adapt existing industries.
In summary, increasing human capital through attracting skilled immigrants is likely the most effective strategy for sustaining future economic growth in a country with a declining youth population.
1. **Aging Population**: A small youth population generally indicates an aging population, which can lead to a shrinking workforce. Attracting skilled immigrants can help fill labor shortages and support economic growth.
2. **Human Capital Development**: Skilled immigrants can bring diverse talents and innovation, contributing to productivity and technological advancement. This can stimulate economic activities and compensate for the declining youth demographic.
3. **Sustainable Workforce**: By attracting skilled workers, the country can create a sustainable workforce that can support various sectors, ensuring long-term economic stability.
### Explanation of Other Options:
- **Importing More Goods**: While increasing imports can address short-term deficiencies in goods and services, it does not contribute to long-term economic growth. Heavy reliance on imports can also lead to trade imbalances.
- **Allocating More Money for Pension for the Elderly**: Although this is important for social stability, increased pension spending without a growing workforce may strain public finances, and it does not directly contribute to economic growth.
- **Shutting Down Some Industries**: This could lead to job losses and further decrease in economic activity. Instead of closing industries, it's typically more beneficial to innovate and adapt existing industries.
In summary, increasing human capital through attracting skilled immigrants is likely the most effective strategy for sustaining future economic growth in a country with a declining youth population.
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