Long-run economic growth depends almost entirely on:

Question

Quizplus · Accepted Answer

Long-run economic growth is primarily driven by labour productivity growth, which is the amount of output produced per hour worked. Increases in labour productivity can lead to higher wages, increased standards of living, and economic growth. Population growth, agricultural production growth, and the number of hours worked can also contribute to economic growth but do not have as strong of an impact as labour productivity growth.

Long-Run Economic Growth Depends Almost Entirely On