Many economists believe that long-run economic growth and employment is best promoted by ________ structural change,such as with a policy of ________.

Question

Quizplus · Accepted Answer

Many economists believe that adapting to structural change, such as through retraining and relocation assistance, is the best way to promote long-run economic growth and employment. This approach acknowledges that industries and technologies naturally evolve over time, and workers may need to acquire new skills or move to different regions to participate in the new economy. Resisting change, such as by subsidizing failing industries or implementing contractionary monetary policies, may ultimately hinder economic growth and employment in the long run.

Many Economists Believe That Long-Run Economic Growth and Employment Is