New Growth Theory

question 115

Multiple Choice

New growth theory

• A) is premised on the idea of controlling the money supply to increase economic growth.
• B) is associated with the idea that the economy works best when reins on the free market are loosened.
• C) holds that long-term growth comes from invention and innovation.
• D) accepts the role of governmental regulation in the growth of the economy.
• E) is no longer accepted by economists.

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Definitions:

Micro-Level Actors

Individuals or small groups that operate or influence processes at a very local or personal level within larger social systems.

Macro-Level

A term used in sociology to refer to the analysis of large-scale social processes, institutions, and structures.

Social Scientific Investigation

An approach to research that involves the systematic study of societal patterns, behaviors, and cultural phenomena using empirical and theoretical methods.

Anthony Giddens

An eminent sociologist hailing from the UK, famous for his structuration concept and all-encompassing outlook on modern societies.