costs and benefits of economic growth for living standards Flashcards
1
Q
benefits of growth
A
higher disposable income
higher employment
higher profits for firms
fiscal dividend for gov (increase in tax revenue)
2
Q
costs of growth
A
inflation
income inequality
environmental costs
current account deficit
3
Q
why do we want sustainable growth
A
growth without the costs
4
Q
why do we want inclusive growth
A
so everyone benefits in growth
5
Q
why do we want balanced growth
A
so it can be continues and sustainable.
