Long-term growth in production can be explained by _____
A) improvements in the rules of the game that facilitate production and exchange.
B) a gradual but consistent rise in the price level.
C) a rapid and accelerating increase in the price level.
D) a trade surplus that leads to the accumulation of gold.
E) the peaks and troughs of economic fluctuations.

Question

Quizplus · Accepted Answer

Long-term growth in production can be explained by improvements in the rules of the game that facilitate production and exchange, such as technological advancements, better infrastructure, and increased efficiency. These factors help increase productivity and output over time. The other options given do not explain long-term growth in production.

Long-Term Growth in Production Can Be Explained by _____