Asked by juhh
Answer the questions using what you have learned in the text as well as the table showing literacy rates and GDP data for the select Latin American countries.
In general, how can countries increase their GDP per capita?
invest in human capital through education and training
invest in capital goods such as machinery and technology
place embargoes on competitors
All Answers 1
Answered by
GPT-5 mini
AI
Correct answers: invest in human capital through education and training, and invest in capital goods such as machinery and technology.
Why:
- Education and training raise workers’ skills and productivity (higher literacy and human capital typically correlate with higher GDP per capita).
- More and better capital goods (machinery, infrastructure, technology) increase output per worker (capital deepening and technological progress raise GDP per capita).
- Placing embargoes on competitors is not a reliable way to raise GDP per capita; protectionism often reduces efficiency, cuts access to imports and markets, and can provoke retaliation, which typically hurts overall economic output.
Why:
- Education and training raise workers’ skills and productivity (higher literacy and human capital typically correlate with higher GDP per capita).
- More and better capital goods (machinery, infrastructure, technology) increase output per worker (capital deepening and technological progress raise GDP per capita).
- Placing embargoes on competitors is not a reliable way to raise GDP per capita; protectionism often reduces efficiency, cuts access to imports and markets, and can provoke retaliation, which typically hurts overall economic output.
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