Question

​Long-run growth in GDP is determined by A. labor​ productivity, capital, and government expenditures. B. ​consumption, investment, and government expenditures. C. ​capital, labor​ productivity, and technology. D. ​technology, investment, and consumption Technological progress is affected by ​(check all that​ apply) A. private property rights B. investment in capital C. new software developments D. population growth E. entrepreneurship

Answer 1

​Long-run growth in GDP is determined by​ capital, labor​ productivity, and technology progress is affected by private property rights, investment in capital, entrepreneurship.

C) capital, labor productivity, and technology

A) Private property rights,

B) Investment in capital,

E) Entrepreneurship

Explanation:

The long run growth is considered as the increase in the value of goods produced in the market over a period of time. In macroeconomics, since quite a while ago run development is the expansion in the market estimation of merchandise and enterprises created by an economy over some undefined time frame.

The since quite a while ago run development is dictated by the level of progress in the genuine total national output (GDP). The goods and services produced in the long run and the long run growth is determined by the change in the percentage of Real GDP.