Long- term growth of output depends upon growth of the quantity of factors of production and the growth of productivity.

Name: Long- term growth of output depends upon growth of the quantity of factors of production and the growth of productivity.
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Question

Quizplus · Accepted Answer

Long-term output growth is determined by both the increase in the quantity of factors of production (such as labor and capital) and the growth of productivity, which includes improvements in technology and efficiency in the use of resources.

Long- Term Growth of Output Depends Upon Growth of the Quantity