In the Long Run, Economic Growth Will Lead to

question 20

Multiple Choice

In the long run, economic growth will lead to
I. the opportunity to produce more consumer goods.
II. the opportunity to produce more capital goods.
III. a higher material standard of living.
IV. a more equitable distribution of income.

• A) III and IV only
• B) I, II, and III only
• C) I, III, and IV only
• D) I, II, III, and IV

---

Definitions:

Offer

A proposal by one party to enter into a legally binding agreement with another party.

Unilateral Contract

A contract in which only one party promises to perform without requiring a reciprocal promise to act from the other party.

Bilateral Contract

A legally binding agreement involving two parties where each is obligated to fulfill their respective promises or actions.

Enforceable Agreement

A contract or agreement that can be upheld and compelled by law.