Is Faster Economic Growth Unambiguously Better

question 254

Multiple Choice

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.

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Definitions:

Sales and Administrative Expenses

Costs related to the selling of products and the management of the company, excluding production costs.

Direct Labor

Direct labor involves the work of employees that is directly attributable to the production of goods or services, such as the labor of a factory worker assembling a product.

Factory Overhead Cost

All indirect costs related to manufacturing, excluding direct materials and direct labor expenses.

Depreciation

The structured apportioning of the price of a tangible asset across its operational life.