The theory of economic growth focuses on the OOOO a O b C Od growth of real income equality in the long run; not on the growth of real income in the short run. growth of resources in the long run, not on the efficiency of resource use in the short run. growth of potential output over the long run, not on fluctuations in the level of economic activity in the short run. advancements in technology over the long run, not on short-run increases in real GDP.

The theory of economic growth focuses on the OOOO a O b C Od growth of real income equality in the long run; not on the growth of real income in the short run. growth of resources in the long run, not on the efficiency of resource use in the short run. growth of potential output over the long run, not on fluctuations in the level of economic activity in the short run. advancements in technology over the long run, not on short-run increases in real GDP.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 3CQQ

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