Given the binding constraints above, which of the following sources of economic growth is the South Africangovernment NOT aiming to make use of?a) Productivityb) Human capitalc) Labour supplyd) Increases in aggregate demand The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) waslaunched by Deputy President Phumzile Mlambo-Ngcuka in February 2006. Afterresearch and discussion with stakeholders, government identified six “bindingconstraints on growth" that needed to be addressed so as to progress in its desire forshared growth and to achieve its target of halving unemployment and povertybetween 2004 and 2014. This could be achieved if the economy grew at an averagerate of at least 4.5% in the period to 2009, and by an average of 6% in the period2010 to 2014.These binding constraints were:deficiencies in government's capacitythe volatility of the currencylow levels of investment infrastructure and infrastructure servicesshortages of suitably skilled graduates, technicians and artisansinsufficiently competitive industrial and services sectors and weak sectorstrategiesinequality and marginalisation, resulting in many economically marginalisedpeople being unable to contribute to and/or share in the benefits of growthand development

Economic constraints are external restraints that a corporation has that can impact its success or…

Answered: iven the binding constraints above,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

Given the binding constraints above, which of the following sources of economic growth is the South African

government NOT aiming to make use of?

a) Productivity

b) Human capital

c) Labour supply

d) Increases in aggregate demand

The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was
launched by Deputy President Phumzile Mlambo-Ngcuka in February 2006. After
research and discussion with stakeholders, government identified six “binding
constraints on growth" that needed to be addressed so as to progress in its desire for
shared growth and to achieve its target of halving unemployment and poverty
between 2004 and 2014. This could be achieved if the economy grew at an average
rate of at least 4.5% in the period to 2009, and by an average of 6% in the period
2010 to 2014.
These binding constraints were:
deficiencies in government's capacity
the volatility of the currency
low levels of investment infrastructure and infrastructure services
shortages of suitably skilled graduates, technicians and artisans
insufficiently competitive industrial and services sectors and weak sector
strategies
inequality and marginalisation, resulting in many economically marginalised
people being unable to contribute to and/or share in the benefits of growth
and development

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Expert Solution

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Renewable And Exhaustible Natural Resources

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions