168. Discuss the pros and cons of economic growth. Pro Greater income which allowing consumers to purchase more and bigger goods. • Higher standard of living enabling people to enjoy more leisure time. • Increase social and political stability because dividing a growing pie is easier than • dividing a shrinking pie. Decrease in birth rate reduces the strain on the environment • Con Leads to greater environmental damage, increase stress and traffic congestion in • people's daily life Too much emphasis on material things at the expense of things that are more • important for personal well-being (for example, job satisfaction) - Macroeconomics #168 –... 169. Discuss the pros and cons of taking from the rich and giving to the poor. Pro Government might be able to lower social unrest and disharmony by reducing the • income gap between the rich and poor. Con Higher taxes distort markets. • Disincentive to work hard and to take on risks • Sayre - Macroeconomics #169 –... 170. Define economics. Economics is a social science that studies the ways humans and societies organize themselves to make choices about the use of scarce resources, which are used to produce the goods and services necessary to satisfy human wants and needs. Sayre - Macroeconomics #170 –... 171. List seven macroeconomic goals. Improved standard of living Economic growth Full employment Stable prices Viable balance of international An equitable distribution of income Manageable government debt and deficit Sayre - Macroeconomics #171 –...
168. Discuss the pros and cons of economic growth. Pro • Greater income which allowing consumers to purchase more and bigger goods. • Higher standard of living enabling people to enjoy more leisure time. • Increase social and political stability because dividing a growing pie is easier than dividing a shrinking pie. • Decrease in birth rate reduces the strain on the environment Con • Leads to greater environmental damage, increase stress and traffic congestion in people's daily life • Too much emphasis on material things at the expense of things that are more important for personal well-being (for example, job satisfaction) - Macroeconomics –... #168 169. Discuss the pros and cons of taking from the rich and giving to the poor. Pro • Government might be able to lower social unrest and disharmony by reducing the income gap between the rich and poor. Con • Higher taxes distort markets. • Disincentive to work hard and to take on risks Sayre - Macroeconomics –... #169 170. Define economics. Economics is a social science that studies the ways humans and societies organize themselves to make choices about the use of scarce resources, which are used to produce the goods and services necessary to satisfy human wants and needs. Sayre - Macroeconomics –... #170 171. List seven macroeconomic goals. Improved standard of living Economic growth Full employment Stable prices Viable balance of international An equitable distribution of income Manageable government debt and deficit Sayre - Macroeconomics –... #171
Test%20Bank%20for%20Principles%20of%20Macroeconomics%206E%20Canadian%20%20Sayre%20.docx