Solved

Without an Increase in the Supply of the Factors of Production

Question 31

Multiple Choice
Without an increase in the supply of the factors of production, how can a nation achieve economic growth?

Without an increase in the supply of the factors of production, how can a nation achieve economic growth?


A) by producing more high-value goods and fewer low-value goods
B) through technological advancement which enables more output with the same quantity of resources
C) by lowering the prices of factors of production
D) by increasing the prices of factors of production

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q26: Table 2-1
Production choices for Tomaso's Trattoria

Q27: An inward shift of a nation's production

Q28: Figure 2-3
Figure 2-3 </p></div><svg width=

Q29: Table 2-1
Production choices for Tomaso's Trattoria

Q30: Figure 2-2
Figure 2-2 </p></div><svg width=

Q32: Increasing opportunity cost is represented by a

Q33: If opportunity costs are constant, the production

Q34: Table 2-2
Production choices for Billie's Bedroom Shop

Q35: Table 2-2
Production choices for Billie's Bedroom Shop

Q36: A production possibilities frontier with a bowed-outward

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents