Economic growth is largely due to increases in labor, increases in capital, and improvements in technology.

Question

Quizplus · Accepted Answer

Economic growth can be attributed to these three factors, among others. Increases in labor refer to more people entering the workforce, increases in capital refer to greater investment in machinery, tools, and equipment, and improvements in technology refer to advancements that increase productivity and efficiency.

Economic Growth Is Largely Due to Increases in Labor, Increases