ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Distribution of income becomes more unequal.
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Depletion of natural resources
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Decreased inflation
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Pollution and environmental damage
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Detailed explanation-1: -The correct answer is Technocrats and Bureaucrats. Technocrats and Bureaucrats are NOT a major factor of economic growth.
Detailed explanation-2: -Environmental costs Increased economic growth will lead to increased output and consumption. This causes an increase in pollution. Increased pollution from economic growth will cause health problems such as asthma and therefore will reduce the quality of life.
Detailed explanation-3: -Moderate inflation is associated with economic growth, while high inflation can signal an overheated economy. If economic growth accelerates very rapidly, demand grows even faster and producers raise prices continually.
Detailed explanation-4: -Rapidly rising prices are harming American families, eroding the value of their paychecks, and increasing the financial strain of buying everyday goods like groceries and gasoline. Inflation is also eroding the value of savings, making it harder for Americans to build wealth.