The Rapid Productivity Growth Experienced in 1995-2012

question 54

Multiple Choice

The rapid productivity growth experienced in 1995-2012:

• A) Is believed by most economists to be a permanent shift in the economy
• B) Is still debated among many economists as to whether it represents a permanent shift in the economy
• C) Suggests that prospects for lasting increases in productivity growth are rather poor
• D) Suggests that productivity growth can occur without raising the nation's standard of living

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Definitions:

Lasted Many Years

This phrase typically describes events, relationships, or situations that have continued or endured for an extended period of time.

Autonomy

The capacity and right of individuals to make their own choices and decisions independently, often associated with self-determination and freedom.

Private Property

Land or belongings owned by individuals or entities, not by the government or public.

Costs

Costs refer to the expenses incurred in the production of goods or the delivery of services, or the sacrifices made in engaging in an activity.