All of the following statements are true of the American economy since 1995,except

A) technological change was the most important factor contributing to economic growth.
B) Americans worked fewer hours per year in 1990 than they did in 2004.
C) productivity rose by more than 3 percent in at least four years since 1995.
D) the American savings rate was 0 percent in 2005.

Technological Change

The process of invention, innovation, and diffusion of technology or processes which significantly alters the way goods or services are produced.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs produced to inputs used in the production process over a defined period of time.

American Economy

The economic system of the United States, characterized by a mix of private and public enterprises and a relatively high level of technological innovation and productivity.