Which of the following would NOT be included in GSDP calculations?
AA doctor's consultation fee.
BThe sale of a new car.
CThe construction of a new bridge.
DThe value of an old house sold a second time.
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According to the World Bank, what are the four pillars supporting human capital-based economic development in a knowledge economy?
- An educated and skilled labor force capable of continuous learning and effective application of skills.
- A robust information infrastructure that ensures easy access to ICT, lowering transaction costs and improving information exchange.
- An effective innovation system that fosters high levels of innovation within firms, industries, and nations.
- A supportive institutional regime that provides incentives for entrepreneurship and the use of knowledge.
- Abundant natural resources and a large manufacturing base.
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