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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A White House proposal to increase infrastructure spending on roads, rail lines and runways is an example of
A) expansionary fiscal policy. B) insourcing policies. C) automatic stabilization. D) contractionary fiscal policy.
To an economist, theory can be thought of as
a. abstraction for the sake of argument. b. one person's opinion, which is just as good as another's. c. another term for the description of a situation. d. beliefs which cannot necessarily be verified. e. explanation of mechanisms behind observed phenomena.