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Other things being equal, which one of the following would increase the rate of economic growth,...

Other things being equal, which one of the following would increase the rate of economic growth, as measured by changes in real GDP? A. A decline in the amount of capital per worker B. A decline in the average length of the work week C. An increase in the size of the working-age population D. A decrease in the labor force participation rate

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Answer #1

Option C

  • Economic growth refers to the overall growth of a country in terms of productivity due to the changes in real GDP.
  • There are various factors which contributes to an increase in the rate of Economic growth.
  • When the number of people working in the labor force increases, the number of goods and services generated by them increases which further increase the productive potential of the whole nation.
  • Thus an increase in the size of the working age population is said to increase the rate of Economic growth as measured by changes in real GDP.
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