Economic Growth Flashcards
(4 cards)
1
Q
What are the benefits of economic growth?
A
Higher living standards, lower unemployment, higher tax revenues
2
Q
What is a cost of economic growth?
A
Environmental damage
Inflationary Pressures
Income Inequality
3
Q
What is short-run growth
A
Driven by AD increases
4
Q
What is Long-run growth
A
Driven by supply-side improvements
