Long-run economic growth can occur as the result of
A)A rightward shift in aggregate demand.
B)The employment of more of the available resources.
C)A technological advance.

Question

Quizplus · Accepted Answer

Long-run economic growth is sustained growth over an extended period of time. One of the most important factors that contribute to long-run economic growth is technological advances. When new technologies are introduced, they help to increase productivity by making it possible to produce more output with the same amount of input. This, in turn, leads to sustained economic growth. The employment of more available resources or a rightward shift in aggregate demand may result in short-term economic growth, but they are not sustainable in the long run.

Long-Run Economic Growth Can Occur as the Result of