Summarize the anti growth view of economic growth.
What will be an ideal response?
In the anti growth view, concern with environmental deterioration leads the list because unchecked growth can cause many spillover costs. Economic growth alone does not seem to solve socioeconomic problems, such as poverty, homelessness or discrimination. In fact, it seems to worsen them in some instances. Rapid growth may also lead to new anxieties and new sources of insecurity for people who find their skills obsolete and jobs threatened. Finally, there is concern that high rates of growth are not sustainable and may lead to the degradation and exhaustion of the earth’s resources.
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A president of the United States promises to produce more defense goods without any decreases in the production of other goods. This promise can be valid
A) if the United States is producing at a point on its production possibilities frontier. B) if the United States is producing at a point inside its production possibilities frontier. C) if the United States is producing at a point beyond its production possibilities frontier. D) only if the production possibilities frontier shifts rightward.
For a simple economy (no government, no foreign sector), the condition for equilibrium can be stated correctly as
a. saving equals actual investment. b. saving equals inventory accumulation. c. saving equals planned investment. d. inventory accumulation equals planned investment.
If a firm is facing inelastic demand, then the firm should decrease price to increase revenue
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 26.8 below to answer the question(s) that follow.
Figure 26.8Refer to Figure 26.8. If the economy is at Point A currently producing Y0 and the Z factors decrease, the economy will move to Point ________ in the short run and to Point ________ in the long run.
A. B; C B. C; B C. E; D D. D; E