ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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seeking gains in knowledge about the national economy
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monitoring and regulating banks and other financial institutions
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promoting innovation and invention to help maintain technological advantage
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seeking to prevent sudden, drastic shifts in prices
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Detailed explanation-1: -To maintain a strong economy, the federal government seeks to accomplish three policy goals: stable prices, full employment, and economic growth. In addition to these three policy goals, the federal government has other objectives to maintain sound economic policy.
Detailed explanation-2: -Why would a federal government decision to increase spending be a matter of macroeconomic policy? Macroeconomics concerns the overall performance of the government. Macroeconomics concerns the overall performance of the economy.
Detailed explanation-3: -How do patents act as an incentive to technological innovation? It encourages the inventor to create something because they will get the exclusive right to produce and sell the product.
Detailed explanation-4: -One of the major benefits of innovation is its contribution to economic growth. Simply put, innovation can lead to higher productivity, meaning that the same input generates a greater output. As productivity rises, more goods and services are produced – in other words, the economy grows.