What are the three major components of economic growth?
What will be an ideal response?
Capital accumulation, labor force growth, and technological progress.
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Inflation is often accompanied by
a. seigniorage b. forced saving c. financial repression d. large government budget deficits e. all of the above
During the Great Depression of the 1930s, the unemployment rate in the United States increased to more than 25% of the labor force
a. True b. False Indicate whether the statement is true or false
Which of the following will most likely cause a decrease the natural rate of unemployment?
a. an increase in the minimum wage b. an increase in unemployment benefits c. an increase in experienced workers aged 25 and over as proportion of the labor force d. an increase in the labor force participation rate of teenagers
An inverse relationship between the rate of interest and the level of:
a. Investment spending is suggested by the investment-demand curve b. Employment is suggested by the aggregate demand curve c. Income is suggested by the consumption function d. Prices is suggested by the aggregate supply curve