Which of the Following Statements Supports the Argument That Larger

question 181

Multiple Choice

Which of the following statements supports the argument that larger real GDP per capita figures means a better life for the population?

• A)Work such as housecleaning,which used to be entirely a non-market activity,is becoming more and more a market activity.
• B)Higher production has negative side-effects,such as more pollution.
• C)In the measurement of GDP,no distinction is made as to the type of goods produced.
• D)Greater economic growth leads to more spending on protecting the environment.

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Definitions:

New Economy

Refers to economies based on digital, telecommunications, and information technology innovations that fuel economic growth and productivity.

Technological Change

The innovation or adoption of new or improved technologies, which can enhance productivity, efficiency, and quality of life.

Low Unemployment

A situation where a very small percentage of the labor force is not engaged in gainful employment, indicating a healthy economy.

Protective Tariffs

Duties charged on imports to defend local sectors from international rivals by elevating the prices of goods from abroad.