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Question
the government of country m has determined that it needs to take action to encourage the growth of its economy. in order to do this, the government has instituted an incentive policy that offers citizens free education. this is extended to all individuals who sign a contract agreeing to work within their specific industry for the next ten years. how is country m planning on encouraging economic growth?
- by investing in research to develop goods that can be introduced on a global scale.
- by investing in new technologies to produce goods that are in great demand
- by investing in education to reduce unemployment and increase production
- by investing in resources that can be traded with other nations
The government of Country M is offering free education to citizens who agree to work in their industry for ten years. This policy focuses on investing in education to reduce unemployment (by ensuring workers stay in the industry) and increase production (as educated workers can be more productive). The other options don't match: the first is about global goods, the second about new tech (not education), the fourth about trading resources (not education).
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by investing in education to reduce unemployment and increase production