What does long-term growth in production mean?
A) an improvement in the quality of resources available
B) a gradual but consistent rise in the price level
C) a rapid and accelerating increase in the price level
D) the peaks and troughs of economic fluctuations

Question

What does long-term growth in production mean?  
A) an improvement in the quality of resources available 
B) a gradual but consistent rise in the price level 
C) a rapid and accelerating increase in the price level 
D) the peaks and troughs of economic fluctuations

Quizplus · Accepted Answer

Long-term growth in production refers to an increase in the quantity and quality of resources available for production, which results in a sustained increase in overall output over time. Therefore, option A is the best choice. B, C, and D are incorrect because they do not reflect the concept of long-term growth in production.

What Does Long-Term Growth in Production Mean