Which of the Following Factors Can Partly Explain the Long-Term

question 86

Multiple Choice

Which of the following factors can partly explain the long-term growth in production in the U.S.economy?

• A)Trade surpluses and accumulation of precious metals
• B)A gradual but consistent increase in the price level
• C)Growth in population
• D)Improvements in technology
• E)Federal government budget deficits

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Definitions:

Commercialization

The process of bringing new products or services to market, including production, distribution, marketing, and sales strategies.

Efficiency-Enhancing Innovations

Changes to existing products or ideas that make them lower cost.

Market-Creating Innovations

Innovations that generate new markets by fulfilling unmet needs or creating new categories of products or services.

New Class of Consumers

Emerging segments of the market population with distinct characteristics, behavior patterns, or purchasing preferences not previously accounted for.