What are the major factors affecting the long-term growth of the economy's output?
What will be an ideal response?
The major factors are population growth and average labor productivity.
Economics
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The real business cycle theory emphasizes that in today's modern age, ________ technology plays a significant role in causing economic fluctuations
A) obsolete ideas in B) advances in C) shocks to D) duplications in
Economics
Suppose the equilibrium wage is $10 per hour. A minimum wage is a ________ and affects employment if it is set at ________
A) price floor; $12 per hour B) price floor; $8 per hour C) price ceiling; $10 per hour D) price ceiling; $12 per hour
Economics