50.In the long run, what will be the source of a country’s economic growth?a.Labor costsb.Labor issuec.Labor productivityd.Labor laws

Human capital is what makes long-run economic growth possible.

Answered: In the long run, what will be the…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 1.1P

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50.

In the long run, what will be the source of a country’s economic growth?

Labor costs

Labor issue

Labor productivity

Labor laws

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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