A factor critical to economic growth is

Question

Quizplus · Accepted Answer

Technological change that increases labor productivity is a critical factor for economic growth as it allows for more output to be produced with the same amount of input, leading to higher levels of economic output and ultimately growth. Increased saving rates, increased human consumption, and reduced dependence on imports may also have positive effects on economic growth, but they are not as directly linked to the ability to produce more output per unit of input as technological change is.

A Factor Critical to Economic Growth Is