The Faster the Rate of Technological Progress

question 112

Multiple Choice

The faster the rate of technological progress:

• A)​the greater the rate of economic growth.
• B)​the slower the rate of economic growth.
• C)​the greater the rate of population growth.
• D)​the slower the rate of growth of the money supply.

Analyze the cost-benefit aspects of pollution in economic terms.

Predict the consequences of external costs on market efficiency.

Determine the socially optimal level of pollution based on marginal social benefits and costs.

Understand the concept of marginal social cost and how it changes with varying quantities of pollution.