Long-run economic growth has been mostly dependent on:

Question

Quizplus · Accepted Answer

Long-run economic growth is mostly dependent on rising productivity, which is the ability to produce more goods and services per unit of input. This can be achieved through technological advancements, increased capital investment, or better education and training for workers. While low unemployment and an increase in the population may contribute to economic growth, they are not the primary drivers of long-run growth. The rule of 70, which is a formula used to estimate how long it takes for a variable to double in value, is also not a factor in long-run economic growth.

Long-Run Economic Growth Has Been Mostly Dependent On