Economic growth occurs when there is
A) growth in technology that increases productivity.
B) growth in government spending.
C) lower taxes on individuals.
D) more environmental regulation.

Question

Quizplus · Accepted Answer

Economic growth is usually associated with an increase in the production of goods and services in an economy over time. This increase can be driven by a variety of factors, but one of the most significant factors is technological progress. When technology improves, it often leads to higher productivity, which means that businesses can produce more output using the same amount of inputs (such as labor and capital). This can lead to lower costs for businesses and higher profits, which can then be reinvested to further fuel economic growth. Therefore, growth in technology that increases productivity is the best choice for economic growth.

Economic Growth Occurs When There Is