Unit 36-The Benefits and Costs of Economic Growth

Which one of these is NOT a benefit of economic growth?

• Environmental damage

• Increased government debt
• Improved standard of living
• Decrease in unemployment

What does sustainable growth mean?

• Economic growth that relies on exploiting natural resources
• Economic growth that prioritizes profit over environmental impact
• Economic growth that can be maintained without causing negative effects on the environment or depleting natural resources.
• Economic growth that leads to environmental degradation

What does income inequality mean?

• Income equality means everyone earns the same amount of money.
• Equal distribution of income among individuals or households within a country.
• Income inequality refers to the fair distribution of income among individuals or households within a country.
• Unequal distribution of income among individuals or households within a country.

What is the Easterlin paradox?

• The Easterlin paradox is the finding that happiness decreases as income increases
• The Easterlin paradox is the finding that income has no impact on happiness
• The Easterlin paradox is the finding that lower income leads to greater happiness
• The Easterlin paradox is the finding that higher income does not lead to greater happiness, once a certain income threshold is reached.

What do the 'anti-growth lobby' want to achieve?

• To promote the growth of industries and urban development
• To conserve natural resources by expanding infrastructure
• To support the expansion of industries without considering environmental impact
• To limit or stop the expansion of industries, infrastructure, and urban development in order to protect the environment and preserve natural resources.

What does 'trickle down economics mean?

• Trickle-down economics means the belief that benefits for the poor will eventually benefit the rest of society.
• Trickle-down economics means the belief that benefits for the middle class will eventually benefit the rest of society.
• Trickle-down economics means the belief that benefits for the corporations will eventually benefit the rest of society.
• Trickle-down economics means the belief that benefits for the wealthy will eventually benefit the rest of society.

What is an 'opportunity cost' in economics?

• The value of the next best alternative that is given up when a decision is made.
• The total cost of all available options
• The cost of purchasing an opportunity
• The cost of an opportunity after it has been utilized