Long-run economic growth depends almost entirely on:

Question

Quizplus · Accepted Answer

Long-run economic growth depends almost entirely on labor productivity growth, which is the amount of output (such as goods or services) that can be produced by each worker in an hour. This allows for an increase in overall economic output without requiring an increase in the number of hours worked or population growth. Agricultural production growth and the number of hours worked can contribute to economic growth in the short-run, but they are not the main drivers of sustained long-term growth. Population growth can have both positive and negative effects on economic growth, depending on how it affects other factors such as labor productivity and innovation.

Long-Run Economic Growth Depends Almost Entirely On