MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Chapter 16, Problem 1DQ
To determine
To describe: The reasons for owing a debt of $21 trillion by the US government and its effects on the future generations.
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'producing more goods and services lowers environmental quality' is not the correct answer.
A movement along an economy's production possibility frontier with output on one axis and environmental
quality on the other shows that:
technological improvements may lead to a sustainable economy with higher consumption in the future
and better an improved environment.
producing more goods and services lowers environmental quality.
producing more goods and services raises environmental quality.
a high use of natural resources to produce more goods and services today may lead to an unsustainable
economy with lower consumption in the future.
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