Final answer:
The economic growth of the United States focuses on improving living standards, reducing government burden, and enhancing trade. Technological innovations are key to growth, which also involves managing other macroeconomic goals like low unemployment and inflation. The federal government's influence on the economy has grown, particularly since the 1940s, shaping policies and government spending.
Step-by-step explanation:
The aims involved in the economic growth of the United States are multifaceted, addressing a range of goals that the federal government seeks to achieve. Economic growth itself is identified as one of the seven major goals of the U.S. economy because it is essential for improving the standard of living, reducing governmental burdens, enhancing foreign trade, and tackling domestic challenges.
Technological advancements are typically considered the most significant contributors to U.S. economic growth. These advancements, along with the expansion of human and physical capital, can lead to new and efficient ways of producing goods and services, thereby bolstering the economy. However, the ability of the economy to generate output is the core determinant of its growth.
The federal government has played an increasingly significant role in the national economy over the past century, especially since the 1940s, navigating the balance between fostering growth and managing other macroeconomic goals such as low unemployment and low inflation. Current economic policies and government spending are deeply influenced by the desire to sustain and enhance economic growth.