1. What is Meant by Economic Growth?
One factor that can cause economic growth is through investment, for example, by increasing the quantity of natural resources a country has, or in other words, by increasing their capital stock. ... In addition, technological improvements add to economic growth in the same way that increases in the capital stock do: by increasing worker productivity. ... Finally, Lower interest rates in the short term can lead to more economic growth as lower interest rates would make borrowing less expensive and will encourage firms to invest and consumers to spend, increasing the confidence of the labor forc...
- Word Count: 1462
- Approx Pages: 6
- Grade Level: Undergraduate