Which of the following partly accounts for the long-term growth in production in the U.S. economy?
A) an increase in government spending
B) an increase in the availability of resources
C) a reduction in federal taxes
D) a gradual but consistent increase in the price level
E) a general optimism about the future and the pioneering spirit of America

Question

Quizplus · Accepted Answer

An increase in the availability of resources, such as labor, capital, and natural resources, can lead to long-term growth in production in the economy. This allows for more output to be produced, which can lead to increased economic activity and a higher standard of living for individuals. The other options (A, C, D, and E) may have short-term effects on the economy but are less likely to account for long-term growth in production.

Which of the Following Partly Accounts for the Long-Term Growth