Offer a defense of economic growth
Please provide the best answer for the statement.
The case for economic growth is compelling, especially for those countries who have a relatively low standard of living. Growth makes the scarcity problem less acute. Related to this issue, growth also makes it possible for nations to alleviate poverty. There are also non material considerations that result from economic growth such as the ability to increase one’s leisure time. Proponents of growth argue that growth and environmental protection can occur simultaneously and that the case for limiting growth in order to preserve the environment is a false issue. Growth is sustainable because the market system conserves scarce resources through higher prices.
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Which of the following is not a problem for the price system allocating resources among different time periods?
A. Interest rates are used for a variety of purposes other than influencing investment. B. The market devotes too much to immediate consumption. C. Our market system leads to lesser real incomes for later generations. D. Our market system despoils irreplaceable natural resources.
In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. Armenia's real GDP per person in 2012 was
A) $1,545. B) $380. C) $1,413. D) $132.
An auction of the leases to drill for natural gas on about 55,000 acres on the Roan Plateau in western Colorado in August 2008 generated nearly $114 million, a record for onshore energy lease sales in the lower 48 states
Is natural gas a renewable or non-renewable resource? Why? A) Renewable, because the resource can be recycled B) Non-renewable, because the used resource cannot be reused C) Non-renewable, because the value of marginal product for natural gas is diminishing D) Renewable, because oil, natural gas, and coal are traded in global community markets
Special districts are often set up among small governments to deal with _____
a. externalities internalized within a governments borders b. externalities that spill across borders c. free-riding problems concerning public goods d. unhealthy competition among local governments