Long-term growth in production can be partially explained by
A)improvements in the "rules of the game" that facilitate production and exchange
B)the peaks and troughs of the business cycle (or economic fluctuations)
C)trade surpluses that lead to accumulations of precious metals
D)federal government budget deficits
E)a gradual but consistent increase in the price level

Question

Quizplus · Accepted Answer

Improvements in the "rules of the game" that facilitate production and exchange, such as improvements in technology, better infrastructure, and stable political institutions, can lead to long-term growth in production.

Long-Term Growth in Production Can Be Partially Explained by