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 associated with an increase in the supply of resources, such as labor, capital, and natural resources. This allows for increased production and output, which can result in higher GDP and income levels. A reduction in unemployment (choice A) may be a consequence of economic growth but is not a cause of it. An increase in opportunity costs (choice B) would generally lead to a decrease in production and slower economic growth. A decrease in demand for resources (choice C) would also lead to a slowdown in economic growth, as it would result in decreased production and output.

Economic Growth Is a Result Of