Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Question
Chapter 31, Problem 2.7P
To determine
The role of growth in the unequal distribution of income.
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When gross domestic product increases, what is the outcome for economic growth?
In a capitalist economy, is income inequality necessary for economic growth?
What are the benefits of economic growth on the economy?
Chapter 31 Solutions
Principles of Economics (12th Edition)
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- How does the role of government influence economic growth? As the size of government increases as a share of the economy, how is the growth rate of real GDP likely to be affected? Explain.arrow_forwardWhy might high levels of inequality lead to lower rates of growth and development? Why might it be difficult to get out of this kind of trap?arrow_forwardEducation seems to be important for human capital deepening and thus economic growth. As people become better educated and more knowledgeable, are there limits to how much additional benefit more education can provide? Why or why not?arrow_forward
- At Which stage of production is the best to economic growth?arrow_forwardIn most cases, wealthy countries have strong institutions that create incentives for economic growth. Why do you think these wealthy countries have strong institutions? Why don't these institutions exist for the entire world?arrow_forwardWhat factors contribute the most to economic growth?arrow_forward
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