Long-term growth in production can be partially explained by
A)increases in government spending
B)increases in availability of resources
C)reductions in federal taxes
D)a gradual but consistent increase in the price level
E)general optimism about the future and the pioneering spirit of America

Question

Quizplus · Accepted Answer

Long-term growth in production can be partially explained by increases in the availability of resources, such as natural resources, labor force, and technology. These resources allow for an increase in production capacity and efficiency, leading to sustained economic growth over time. A, C, D, and E could potentially influence short-term economic growth or performance, but they are not sustainable long-term contributors to growth.

Long-Term Growth in Production Can Be Partially Explained by