The process of economic growth is
A)Not affected by previous year's growth.
B)Cumulative,whereby gains made in one year accumulate in future years.
C)Not important to economists.

Question

Quizplus · Accepted Answer

Economic growth is cumulative as gains made in one year can lead to further growth in future years. This is because increased production and earnings can lead to increased investment, innovation, and consumer demand, which can in turn drive further economic growth. Therefore, economic growth is not solely determined by one year's performance, but rather by a combination of past and present factors.

The Process of Economic Growth Is