Given below are two statements, one labeled as Assertion (A) and the other as Reason (R): Assertion (A): According to Paul Romer, public and private investment in human capital generate external economies. Reason (R): Investment in human capital leads to improvement in productivity and thereby offsets the natural tendency of diminishing returns. In light of the above statements, choose the correct answer from the options given below:

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Economics · Economic Growth and Development

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Both A and R are true, and R is the correct explanation of A

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