Is faster economic growth unambiguously better?
a. No, because growth has an opportunity cost.
b. No, because growth serves no useful purpose.
c. Yes, because more goods and services are always better.
d. Yes, because it expands the production possibilities of an economy.
e. Uncertain-economic growth has no answer to this question.
a
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Decreases in the value of existing assets are called:
A. capital losses. B. investment. C. capital gains. D. saving.
If each voter pays taxes in proportion to her demand, then _____
a. the median voter's most preferred outcome will definitely occur b. the condition for economic efficiency is satisfied c. special interests will have no power d. political institutions are optimal
A budget deficit will be most inflationary if the aggregate
A. demand curve is very steep. B. demand curve is very flat. C. supply curve is very flat. D. supply curve is very steep.
Refer to the above supply and demand graph. In the graph, point A is the current equilibrium level of output of this product and point B is the optimal level of output from society's perspective. S is the supply curve without a tax and St is the supply curve with a tax. The external cost to society from the production of each unit of this product is measured by:
A. AB. B. EF. C. FG. D. DE.