Factors That Influence Productivity and Therefore Growth Are

question 100

Multiple Choice

Factors that influence productivity and therefore growth are:

• A)physical and human capital per worker and technological advances.
• B)government independence.
• C)more government intervention in the marketplace.
• D)increased consumption and less investment spending.

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Definitions:

Demand Curve

A chart depicting how the cost of an item correlates with the amount of that item buyers are prepared to purchase.

Barriers to Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter a market.

Economic Profits

The surplus achieved when revenue generated from business activities exceeds both explicit and implicit costs.

Long Run

A period of time in which all factors of production and costs are variable, and firms can adjust all inputs.