According to Simon Kuznets,the key characteristic of the epoch of modern economic growth is:
A) expansion of heavy industry.
B) a rapid decline in population growth rates.
C) high rates of saving and investment.
D) the application of science to problems of economic production.

Question

Quizplus · Accepted Answer

According to Simon Kuznets, the key characteristic of the epoch of modern economic growth is the application of science to problems of economic production. This means that scientific advancement played a crucial role in driving economic growth during this period. While other factors such as expansion of heavy industry and high rates of saving and investment were important, they were not considered the key characteristic by Kuznets. The rapid decline in population growth rates was also not mentioned as a significant factor in the epoch of modern economic growth.

According to Simon Kuznets,the Key Characteristic of the Epoch of Modern