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Stacy Wit-two
on Nov 11, 2024

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According to Simon Kuznets,_____.

A) the main force behind economic growth is increases in the quantity of labor
B) the main force behind economic growth is increases in the quantity of capital
C) the main force behind economic growth is increases in the quality of inputs
D) government regulations increase labor productivity
E) government regulations decrease labor productivity

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured by GDP.

Simon Kuznets

Simon Kuznets was a Nobel Prize-winning economist known for his work on economic growth and for developing the concept of Gross National Product (GNP).

Quality of Inputs

The standard or grade of raw materials and labor used in the production process, influencing the efficiency and outputs.

  • Evaluate the influence of technology on workforce efficiency and the function of production.
  • Contrast the augmentation in physical and human capital.
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Samyukti ThapaNov 15, 2024
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