Without controlling for differences in natural resources and technological knowledge, diminishing returns can explain the entire difference in economic growth rates for China and the United States.

Question

Quizplus · Accepted Answer

Diminishing returns can partly explain differences in economic growth rates, but factors such as differences in natural resources, technological advancements, human capital, government policies, and institutional frameworks also significantly contribute to the variations in economic growth rates between China and the United States.

Without Controlling for Differences in Natural Resources and Technological Knowledge