Economic growth is a result of
A) a reduction in the unemployment rate.
B) an increase in the opportunity costs of production.
C) a decrease in the demand for resources.
D) an increase in the supply of resources.

Question

Quizplus · Accepted Answer

Economic growth is typically the result of an increase in the supply of resources, whether that be through technological advancements or an increase in physical capital or labor. Option A is incorrect as low unemployment is a potential result of economic growth, but not the cause. Option B is incorrect as an increase in opportunity cost may lead to a decrease in production, not growth. Option C is also incorrect, as a decrease in resource demand may indicate a decrease in economic activity, rather than growth.

Economic Growth Is a Result of