Without an Increase in the Supply of the Factors of Production

question 222

Multiple Choice

Without an increase in the supply of the factors of production, how can a nation achieve economic growth?

• A)by producing more high-value goods and fewer low-value goods
• B)through technological advancement which enables more output with the same quantity of resources
• C)by lowering the prices of factors of production
• D)by increasing the prices of factors of production

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Definitions:

Classical Conditioning

An educational technique involving the repeated pairing of two stimuli, leading to a scenario where the reaction initially prompted by the second stimulus is ultimately prompted by the first stimulus.

State-Dependent Learning

The phenomenon where information learned in a particular physiological or psychological state is more easily recalled when in the same state.

Observational Learning

A learning process through which behaviors are acquired by watching and imitating others.

Operant Conditioning

A learning process in which the strength of a behavior is modified by the behavior's consequences, such as reward or punishment.