Which of the following are required for economic growth?
I.more goods and services produced per hour of work
Ii.an increase in the average hours of labor per person
Iii.an increase in prices

Question

Quizplus · Accepted Answer

Economic growth is typically measured by an increase in the production of goods and services per hour of work (option i). However, an increase in the average hours of labor per person (option ii) can also contribute to economic growth, as it can result in increased production. An increase in prices (option iii) alone does not necessarily indicate economic growth, as it could be the result of inflation or other factors. Therefore, options i and ii are required for economic growth, and the best choice is B.

Which of the Following Are Required for Economic Growth