Question : 21) If a country transfers resources from the production of : 1384428

 

21) If a country transfers resources from the production of consumption goods to the production of capital goods, the result will be to

A) raise future consumption.

B) raise current living standards.

C) decrease the long-run growth rate.

D) lower future living standards.

E) raise current consumption.

22) One of the benefits of long-run economic growth is

A) growth in nominal GDP greater than real GDP.

B) decreased productive capacity.

C) a greater ability to reduce inequality.

D) increased future interest rates.

E) decreased current saving and increased current consumption.

23) The costs of long-run economic growth include:

1) declining future average living standards;

2) that current consumption must be sacrificed to increase investment in capital goods;

3) current increases in investment may only generate greater consumption in the distant future.

A) 1 and 2

B) 2 and 3

C) 1 only

D) 2 only

E) 3 only

24) For a given level of technology, a more rapid rate of economic growth can probably be achieved only if a country’s citizens are prepared to

A) redistribute income.

B) sacrifice some present consumption.

C) increase their demand for goods and services.

D) increase exports.

E) decrease interest rates.

25) The costs of economic growth include

A) declining future living standards.

B) current saving must be sacrificed to increase investment in capital goods.

C) improvements in technology.

D) the effects on workers whose skills are made obsolete by technical change.

E) reduced interest rates.

26) Long-run economic growth can help alleviate the problems of poverty by

A) creating new low-paying jobs for the unemployed.

B) generating more resources that can be used to reduce income inequality.

C) reallocating income away from low-value production to increase the incentives for high-value production.

D) requiring increased saving on the part of most of the population.

E) increasing future consumption for the middle class.

27) Long-term economic growth

A) is achieved only by changes in factor-utilization rates.

B) alleviates all poverty.

C) can improve average material living standards.

D) is the result of expansionary fiscal policy.

E) leads to equal income distribution.

28) Consuming fewer goods today in order to invest resources in capital goods can be considered the ________ of economic growth.

A) opportunity cost

B) social cost

C) investment cost

D) external cost

E) total cost

29) Alleviation of poverty is more achievable in a growing economy mainly because

A) individuals are more likely to object to the redistribution of income when they earn more.

B) everyone, including the poor, benefits equally from growth.

C) poor individuals are relatively easier to be identified in a growing economy.

D) nobody has to be made worse off when the increment to income caused by growth is redistributed.

E) wage rates for low-income people are naturally rising.

30) An important social cost of economic growth is

A) the increasing inequality of income that usually accompanies sustained growth.

B) the sacrifice of current consumption required for a higher level of future consumption.

C) the associated inflation.

D) the associated frictional unemployment.

E) the destruction of jobs due to labour skills of certain workers becoming obsolete.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more