*Which of the following best describes the relationship between economic growth and literacy?
A. As the economy grows, literacy declines because it becomes less and less useful in a developed economy.
B. Increased literacy initially stimulates economic growth by raising labor productivity, but as the economy grows and the opportunity cost of education rises, literacy declines.
C. Increased literacy stimulates economic growth by raising labor productivity, and as the economy grows, people consume more education.
D. There is no correlation between economic growth and literacy.
Answer:C
*Which of the following best describes the relationship between economic growth and literacy?
A. As the economy grows, literacy declines because it becomes less and less useful in a developed economy. B. Increased literacy initially stimulates economic growth by raising labor productivity, but as the economy grows and the opportunity cost of education rises, literacy declines. C. Increased literacy stimulates economic growth by raising labor productivity, and as the economy grows, people consume more education. D. There is no correlation between economic growth and literacy.
Explanation: Type: Multiple Choice