Asked by Carlos Murray on May 06, 2024

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Which of these partly accounts for the long-term growth in production in the U.S.economy?

A) An increase in government spending
B) An increase in the availability of resources
C) A reduction in federal taxes
D) A gradual but consistent increase in the price level
E) A general optimism about the future and the pioneering spirit of America

Government Spending

Government spending involves expenditures by government bodies on public services, infrastructure, defense, social welfare, and more, impacting the economy’s overall fiscal stance.

Resource Availability

This refers to the accessibility and abundance of natural, human, and capital resources which can be used for production.

Pioneering Spirit

The attitude or approach characterized by innovation, taking risks, and trying new things, often in exploration or business.

  • Comprehend the variables that influence sustained economic expansion.
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Haley McElroyMay 09, 2024
Final Answer :
B
Explanation :
An increase in the availability of resources such as labor, capital, and technology has allowed for sustained long-term growth in production in the U.S. economy. This has led to increased efficiency and productivity, which in turn has contributed to economic growth.

Answer: E
A general optimism about the future and the pioneering spirit of America has also played a role in the long-term growth of the U.S. economy, as entrepreneurs and businesses have been motivated to take risks and innovate, leading to economic growth and development. However, this is not the only factor and is less significant than an increase in resources.