If Growth Can No Longer Be Counted on to Provide

question 67

Multiple Choice

If growth can no longer be counted on to provide for all the major wants, private and public, of a society, or to sustain all the peripheral members of a society at a level that keeps a lid on mutinous outbreaks, especially in congested urban centers, then some specification of a nation's most serious needs-its social priorities-and some direction as to how goods are to be allocated among society's members are needed. Neil W. Chamberlain, Social Strategy and Corporate Structure

• A) Argument; conclusion: Growth can no longer be counted on ... of a society.
• B) Nonargument.
• C) Argument; conclusion: Some specification ... are needed.
• D) Argument; conclusion: Growth cannot sustain ... members of a society.
• E) Argument; conclusion: Growth cannot keep a lid on mutinous outbreaks.

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Definitions:

Price Ceilings

Legal maximum prices set for particular goods and services, intended to protect consumers from very high prices.

Consumer Surplus

The variance between the actual cost paid by consumers and the maximum amount they're prepared to pay for a good or service.

Market Equilibrium

The point at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a stable market price.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service to prevent market prices from rising above a certain level.