Which of the following is the single most important source of U.S. economic growth?

Question

Quizplus · Accepted Answer

Increases in labor productivity are the single most important source of U.S. economic growth. This is because productivity growth allows for more output to be produced with the same amount of resources (including labor), leading to increased efficiency and economic growth. While stability of the socio-cultural-political environment and improvement in the legal and human environment can certainly contribute to economic growth, they are not as significant as increases in labor productivity. Increases in the quantity of labor can also contribute to economic growth, but they are limited by factors such as population growth and labor force participation rates.

Which of the Following Is the Single Most Important Source