Two of the major factors contributing to growth are ?
Correct answer: A. resources and efficiency
- A. resources and efficiency
- B. money and efficiency
- C. money and luck
- D. resources and a good climate
Explanation
Economic growth depends chiefly on increasing available resources, such as labour and capital, and using them more efficiently through better technology and productivity. Money or luck alone does not create additional real output.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?
Leakages from the circular flow are _________ and __________?
In the circular flow we would expect leakages to ___________ injections?
The underground economy consists of ?
Equilibrium in the circular flow of income occurs when ?
Total withdrawals from the circular flow of income include ?