Question

Growth accounting groups supply-side elements into what two main categories?

A) Labor and Capital
B) Physical and Human capital
C) Technology and Innovation
D) Production and Consumption

Answer 1

The growth accounting groups supply-side elements into two main categories: labor and capital.

Step-by-step explanation:

The supply-side elements in growth accounting are grouped into two main categories: labor and capital. Labor refers to the work performed by individuals, while capital includes physical capital (machinery, equipment) and human capital (knowledge, skills). These categories help economists analyze the factors contributing to economic growth.