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

question 42

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

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Definitions:

Innovation

The introduction of new ideas, products, or methods to improve processes, enhance productivity, or solve problems.

Work Teams

Groups of people who collaborate closely to achieve a shared objective, often with complementary skills and roles.

Self-managed Teams

Groups of employees who are given the authority and responsibility to manage themselves without direct supervision.

Virtual Teams

Work groups that use technology to communicate and collaborate across time, space, and organizational boundaries.