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In the long-run, the most important source of the increase in a nation's standard of living is a:
 
A. zero rate of population growth.
 
B. high rate of economic growth
 
C. high rate of consumption
 
D. high rate of labor force growth
 
 

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Ronaldo Mendoza
Ronaldo MendozaLv10
13 Oct 2020
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Related questions

In the long run, the most important source of increase in a nation's standard of living is a:

1. What factors might contribute to low or high growth rates in a country? How can a sustainable long-run economic growth rate be realized? What are the roles of the government in achieving sustainable long-run economic growth?

2. Why resources are no longer the most important indicators of economic growth disparity among countries? Which other economic and non-economic factors do you think explain the reasons behind growth disparities among countries?

3. What is the relationship between economic growth rate and unemployment rate?

Which of the following is true?
 
a. The GDP gap is the difference between the full-employment gap real GDP and actual real GDP.
 
b. We desire economic growth because it increases the nation's standard of living.
 
c. Economic growth is measured by the annual percentage increase in a nation's real GDP.
 
d. Discouraged workers are a reason critics say the unemployment rate is understated.
 
e. All of the above answers are correct.

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