Long-Run Growth in Real GDP Is Determined Primarily by _____

question 41

Multiple Choice

Long-run growth in real GDP is determined primarily by _____, while short-run movements in real GDP are associated with _____.

• A)variations in labour-market utilization; technological progress
• B)technological progress; variations in labour-market utilization
• C)money supply growth rates; changes in velocity
• D)changes in velocity; money supply growth rates

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Definitions:

Longitudinal

A type of study or analysis that follows the same subjects over a period of time, observing changes or developments.

Cross-sectional

A research method that analyzes data collected from a diverse population at a single point in time.

Sequential

Involving or characterized by a logical order of events or a sequence where one thing follows another.

Evolutionary

Pertaining to evolution, involving the gradual development of organisms and the theory explaining the diversity of life on Earth through natural selection.