20 A FIRST LOOK AT MACROECONOMICS CHAPTER Objectives After studying this chapter, you will able to Describe the origins of macroeconomics and the problems it deals with
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The main benefit of long-term economic growth is expanded consumption possibilities, including more health care for the poor and elderly, more research on cancer and AIDS, more space exploration, better roads, more and better housing, and a cleaner environment.
The costs of economic growth are forgone consumption in the present, more rapid depletion of nonrenewable natural resources, and move frequent job changes.