Which of the following is considered a determinant of long-run economic growth?
a. Increase in the interest rates
b. Changing expectations
c. Increase in the money supply
d. Growth in productive resources
e. Reduction in government spending
d
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Homeowners can deduct interest payments on their mortgages from their federal income tax. If this deduction were removed, how would the housing market be affected?
Over time, technological change has:
A. reduced both the price elasticity and income elasticity of the demand for farm products. B. reduced the minimum efficient scale of production in agriculture and increased the prices of farm products. C. increased both price elasticity and income elasticity of the demand for farm products. D. increased the minimum efficient scale of production in agriculture and reduced the prices of farm products.