Answered: Below, there are examples of policies…

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter16: Creating An Environment For Growth And Prosperity

Section: Chapter Questions

Problem 14CQ

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Below, there are examples of policies which can facilitate economic growth within an economy. For a), b) and c) state how these examples can facilitate economic growth within the economy.

a) Examples of distributive policies are public expenditure on welfare, expenditure on health and education and expenditure of public safety.

b) Examples of the re-distributive policies are temporary income support, food distribution program and nutrition aid programs etc.

c) Examples of the regulatory and substantive policies are regulation of pollution policy, curbing carbon emission, encouraging groundwater reserves etc.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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