Production of new and better goods and services using new technology results in ........

Economics- Phase (I & II) Business Cycles

Download Solution PDF

Production of new and better goods and services using new technology results in _____

expansion of employment

increase in the incomes and profits

boost to economy

all the above

छोटे Courses बड़े Results

Master Business Cycles

Prepare through Micro-courses

Try Now

Explanation:

economic growth refers to an increase in aggregate production in an economy. Often, but not necessarily, aggregate gains in production correlate with increased average marginal productivity. That leads to an increase in incomes, inspiring consumers to open up their wallets and buy more, which means a higher material quality of life or standard of living.