Long-Run Growth Is The

question 49

Multiple Choice

Long-run growth is the:

• A) sustained upward trend in aggregate output per person over several decades.
• B) expansion phase of business cycles.
• C) downturn phase of business cycles.
• D) sustained downward trend in the employment rate over several decades.

---

Definitions:

Sales Tax

A government charge on retail sales of certain goods and services.

Sales Tax

A tax on sales or on the receipts from sales, typically added to the purchase price by the seller.

Assessed Valuations

The dollar value assigned to a property for purposes of measuring applicable taxes.

Overhead Expenses

Indirect costs related to running a business that are not directly tied to production, including rent, utilities, and administrative salaries.