Long-Term Economic Growth

question 54

Multiple Choice

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.

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Definitions:

Roulette-type Games

Games of chance that are characterized by a spinning wheel and a ball that determines the winning number or color.

Charity Bazaar

is a fundraising event organized to support charitable causes, often featuring goods for sale, entertainment, and food.

Availability Heuristic

A quick mental strategy that draws on the initial instances that spring to mind for someone when thinking about a certain topic, notion, strategy, or decision-making process.

Ungenerous Person

An individual who is not willing to give or share things, especially money, freely or in a way that shows kindness.