One Principle of Economic Growth Is the Notion That, to Raise

question 19

Multiple Choice

One principle of economic growth is the notion that, to raise living standards over time, an economy must

• A) have full employment of its labor force.
• B) devote some portion of its current output to increasing its future output.
• C) maintain low inflation over the years.
• D) have a small population so that its GDP per person will be high.

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Definitions:

Culture Fair Intelligence Test

An intelligence test designed to minimize biases arising from cultural or linguistic differences among test-takers.

Fluid Ability

The aspect of intelligence that involves the ability to deal with new and unusual problems without relying on previous knowledge.

Crystallized Ability

A type of intelligence that involves the ability to use learned knowledge and experience.

Worldview

The totality of psychological, thought, and emotional components of behaviors and decision making.