How can a country can maintain its future economic growth when its population in the 0-14 age group very small? (1 point)
One way a country can maintain its future economic growth when its population in the 0-14 age group is very small is by investing in education and skill development. By focusing on quality education, training, and vocational programs, the country can ensure that the existing younger population is equipped with the necessary knowledge and skills for productive employment in the future. This will help the country to have a highly skilled workforce that can contribute to economic growth and innovation.
Additionally, the country can also adopt policies that encourage higher labor force participation rates among other age groups. This may include creating favorable conditions for women and older workers to join or remain in the workforce, implementing flexible working arrangements, and providing incentives for entrepreneurship and job creation. By tapping into the potential of a diverse workforce, even with a smaller population in the 0-14 age group, the country can sustain economic growth.
Furthermore, the country can also prioritize attracting and retaining talent from other countries through immigration policies that promote a skilled labor force. By creating an environment that is attractive to skilled immigrants, the country can boost its workforce and contribute to economic growth.
In summary, to maintain future economic growth with a small population in the 0-14 age group, a country should invest in education and skill development, encourage higher labor force participation rates, and attract skilled immigrants.