Long-Run Economic Growth Is the Process by Which Productivity Increases

question 49

Multiple Choice

Long-run economic growth is the process by which productivity increases

• A) the employment rate.
• B) the average standard of living.
• C) the size of the labour force.
• D) federal tax revenues.

---

Definitions:

Deregulation

The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry.

Intermodal Service

A transportation service that combines multiple modes of transport, such as rail, ship, and truck, to move goods efficiently from origin to destination.

Transport Buyer

An individual or entity responsible for purchasing transportation services or solutions.

Cost Per Hundredweight (Cwt)

A pricing measure used in various sectors, indicating the cost of 100 pounds of a product.