Economic growth, as measured by an increase in GDP, is generally considered to be beneficial for society because it leads to job creation, increased wages, and higher standards of living for individuals. While there may be some negative consequences of economic growth such as environmental degradation, overall it is seen as a positive indicator of an economy's health.

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Economic Growth Is

Question 12

Multiple Choice

Economic growth is:

A) bad for the economy as it reduces the standard of living
B) good for society to the extent that it allows everyone to enjoy a higher standard of living
C) bad for society as it allows producers to make more profit
D) bad for society because it creates more inequities
E) none of the above

Correct Answer: