Which of the following statements is FALSE?
a.
Falling prices for goods are usually caused by a lack of production or availability.
b.
The Texas lumber industry of the 1800s destroyed over 18 million acres of pine forest, prompting state regulation and conservation of the industry.
c.
The best type of economic growth is slow and steady.
d.
Innovation in agricultural techniques could lead to a boom in the farming industry.
Answers
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Answer:
a) Falling prices for goods are usually caused by a lack of production or availability.
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Explanation:
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a) Falling prices for goods are usually caused by a lack of production or availability.
c) The best type of economic growth is slow and steady.
Explanation:
- When prices usually "fall in an economy", negative inflation/deflation occurs. That can be because the availability of goods is greater than "the supply" for these goods however it could be linked to greater the "buying power of money". Purchasing power may rise as a result of a decline in cash supply and a decline in credit availability, that has a negative impact on consumer purchasing.
- When economic growth is slower, the "standard of living" would rise at a "slower rate". When there is "slow economic growth", poverty & inequality for lower income people will become more apparent." Possible unemployment" if inflation is not enough to generate new jobs that are increasingly displaced because of technology. Greater government borrowing — for example, as health care & -"age pension demand" increases more than the weak "economic growth rate".
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