Critics of the "Limits to Growth" Thesis Argue That

question 103

Multiple Choice

Critics of the "limits to growth" thesis argue that

• A) economic growth will always take the form of more of what we have now,rather than newer,better,and cleaner goods and services.
• B) the market is not capable of adjusting to shortages of resources.
• C) clean air and water are luxury goods,and the more economically developed a country becomes,the easier it will be to keep the environment clean.
• D) government action spurred by political pressure is the best way to avoid the depletion of natural resources and pollution of the environment that results from economic growth.
• E) all the problems created by economic growth can be dealt with effectively through the market or the political process.

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Definitions:

Adjusting Entries

Bookkeeping entries made at the end of an accounting period to update accounts for accruals and deferrals.

Insurance Expense

The cost incurred by a company for purchasing insurance policies, which is recognized as an expense over the period the insurance provides coverage.

Prepaid Insurance

An asset account representing insurance premiums that have been paid in advance and are gradually expensed over the period of coverage.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.