Most modern economists agree that there is a single factor that can be used to explain economic growth.
A)This is a true statement because what are needed are abundant resources.
B)This is a true statement because at the foundation of economic growth, it is essential that there exist extensive private property rights.
C)This is a false statement because nearly all economists believe that economic growth is a complex process without a single dominant factor.
D)This is a false statement because economists typically do not agree on policy issues.

Question

Most modern economists agree that there is a single factor that can be used to explain economic growth.
A)​This is a true statement because what are needed are abundant resources.
B)​This is a true statement because at the foundation of economic growth, it is essential that there exist extensive private property rights.
C)​This is a false statement because nearly all economists believe that economic growth is a complex process without a single dominant factor.
D)​This is a false statement because economists typically do not agree on policy issues.

Quizplus · Accepted Answer

While there are various factors that can contribute to economic growth, such as technological innovation or human capital, there is no single dominant factor that can explain all instances of economic growth. Most economists recognize that economic growth is a complex process with many interacting variables.

Most Modern Economists Agree That There Is a Single Factor