In the long run, economic growth will lead to
I. the opportunity to produce more consumer goods.
II. the opportunity to produce more capital goods.
III. a higher material standard of living.
IV. a more equitable distribution of income.

Question

Quizplus · Accepted Answer

Economic growth increases the capacity to produce both consumer and capital goods, leading to a higher material standard of living. However, it does not necessarily result in a more equitable distribution of income.

In the Long Run, Economic Growth Will Lead to