Long- Run Increases in Real National Income Can Generally Be

question 61

Multiple Choice

Long- run increases in real national income can generally be traced to

• A)excess of demand in the labour market that increases employment.
• B)growing availability of factors and/or growing factor productivity.
• C)growing demand that lead to increases in output and prices.
• D)growing demand which causes continuous growth in consumer spending.
• E)growing supply because higher wages will increase the participation rate.

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Definitions:

Vertical Merger

The joining of two firms engaged in different parts of an industrial process, or the joining of a manufacturer and a retailer.

Computer Companies

Entities that specialize in the development, manufacture, and sale of computer hardware, software, and related services.

Less Regulation

The concept of less regulation involves reducing government rules and oversight to potentially enhance business operations and market freedoms.

Airlines

Companies that provide air transport services for traveling passengers and freight.