Which of the following statements is are true a Sustained gr

Which of the following statements is (are) true? a) Sustained growth over the long run can occur as long as there is technological progress. b) Sustained growth over the long run can occur as long as there is capital accumulation. c) Sustained growth over the long run can occur as long as the labor force is able to grow.

Solution

The correct answer is (D) i.e all of the above are true. This is because all the above-mentioned factors that are technological progress, capital accumulation and labor force are required for sustained long-term growth of the economy. Hence the correct answer is (D).