What generates economic growth?
What will be an ideal response?
The two key factors that generate economic growth are technological change and capital accumulation. Technological change allows an economy to produce more with the same amount of limited resources, Capital accumulation, the growth of capital resources including human capital, means that an economy has increased its available resources for production.
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If the Japanese central bank sells yen and buys U.S. dollars, the U.S. dollar will appreciate
Indicate whether the statement is true or false
A good economic theory: a. includes every detail that affects the economic behavior of interest
b. relies on simplifying assumptions in order to explain economic behavior. c. does not rely on simplifying assumptions. d. is impossible to achieve because of the difficulty of conducting controlled experiments.