Terms and concepts

technology: The study of or a collection of techniques.

output: Production; quantity produced, created, or completed.

economic growth: The increase of the economic output of a country.

monetary policy: The process by which the central bank, or monetary authority manages the supply of money, or trading in foreign exchange markets.

quality of life: The general well-being of societies, including not only wealth and employment, but also the environment, physical and mental health, education, recreation and leisure time, and social belonging.

economic growth: The increase of the economic output of a country.

Economic growth is the increase in the market value of the goods and services that an economy produces over time. It is measured as the percentage rate change in the real gross domestic product (GDP).
Long-run growth is defined as the sustained rise in the quantity of goods and services that an economy produces.
that impact the long-run growth of an economy:

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