Which of the following is true about the sources of economic growth after the Civil War? a.Growth of the labor force and increased productivity became increasingly important sources. b.Productivity gains in cotton production and expansion of the use of land became increasingly important sources. c.Expansion of the use of land and capital became increasingly important sources. d.Economic growth accelerated in the 20th century compared to the early 19th century..

Economic growth refers to the process through which a country's wealth increases over time. Although…

Answered: Which of the following is true about…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following is true about the sources of economic growth after the Civil War?

	a.	Growth of the labor force and increased productivity became increasingly important sources.
	b.	Productivity gains in cotton production and expansion of the use of land became increasingly important sources.
	c.	Expansion of the use of land and capital became increasingly important sources.
	d.	Economic growth accelerated in the 20th century compared to the early 19th century..

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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