Continued economic growth is desirable if it means that the standard of living continues to increase.
Answer the following statement true (T) or false (F)
True
Continued economic growth is desirable as long as individuals end up with greater per capita income; most arguments against growth focus on congested cities and environmental damage, not GDP per capita.
You might also like to view...
Factors of production include all of the following EXCEPT ________
A) machines made in past years. B) money C) entrepreneurship D) a wheat field that is not irrigated
When rent controls establish a legal maximum rental rate below the equilibrium rental rate
A) quantity demanded exceeds quantity supplied. B) quantity supplied exceeds quantity demanded. C) demand exceeds supply. D) supply exceeds demand.
The interest rate:
A. is the price of borrowing money for a specified period of time. B. is expressed as a percentage per dollar borrowed and per unit of time. C. determines the total amount that must be paid back on a loan. D. All of these are true.
Which of the following is NOT a characteristic of a laissez-faire system?
A. Enforcement of contracts B. Protecting private property rights C. Minimal government intervention D. Public ownership of all capital