Which of the Following Is a Source of Economic Growth

question 120

Multiple Choice

Which of the following is a source of economic growth?

• A) more resources
• B) active economic policies
• C) technology
• D) both A and C

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Definitions:

Isocost Line

In economics, a line that represents all combinations of a firm’s factors of production that have the same total cost.

Total Cost

The complete expense incurred in the production of a set amount of goods or services, including both fixed and variable costs.

Cost Of Capital

The required return necessary to make a capital budgeting project, such as building a new plant, worthwhile.

Cost Of Labor

The total cost incurred by employers to compensate employees, including wages, benefits, and taxes associated with employing labor.