ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Inflation
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Labour productivity
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Factor endowment
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Standard of living improvement
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Investment expenditure
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Detailed explanation-1: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce.
Detailed explanation-2: -Increases in capital goods, labor force, technology, and human capital can all contribute to economic growth. Economic growth is commonly measured in terms of the increase in aggregated market value of additional goods and services produced, using estimates such as GDP.
Detailed explanation-3: -Natural Resources. Physical Capital or Infrastructure. Population or Labor. Human Capital. Technology. Law. 25-Feb-2022
Detailed explanation-4: -Natural factors. Human factors. Population. Physical capital and technological factors. Institutional factors.