The two major reasons for the tremendous growth in output in the U.S.economy over the last 125 years are
A)population growth and low inflation.
B)population growth and increased productivity.
C)low unemployment and low inflation.
D)low inflation and low trade deficits.

Question

Quizplus · Accepted Answer

Population growth has led to an increase in the size of the workforce, which has contributed to the growth in output. However, increased productivity, which means producing more with the same amount of resources, has been the primary driver of economic growth in the US over the last 125 years. This has been achieved through innovation, technological advancements, and better management practices. Low inflation, low unemployment, and low trade deficits are important for a healthy economy, but they are not the primary reasons for the tremendous growth in output.

The Two Major Reasons for the Tremendous Growth in Output