Answer:
Economic growth means there is an increase in national output and national income. Economic growth is caused by two main factors: An increase in aggregate demand (AD) An increase in aggregate supply (productive capacity)
Explanation:
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1. <span>Hoover's stance on the economy was based on voluntarism . From before his entry to the Presidency, he was the way a proponent of the concept that public private cooperation was the way to achieve high long term growth.
2. </span>Hoover believed in "rugged individualism"—the idea that people should succeed through their own efforts. He believed people should take care of themselves and each other, and that the government should encourage private groups to help the needy.
