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State whether the following statements are true or false
State whether the following statements are true or false. If false, also write a corrected statement.
a. Macroeconomics is about the activities of government agencies.
b. Economic growth always leads to improvements in living standards.
c. The three aspects to consider in thinking about sustainability are financial, monetary, and ecological.
d. Over a billion people live in absolute poverty, defined as $1.25 or less per day.
e. Poor countries have had little problem paying back economic development loans.
Expert Solution
(a) FALSE
Macroeconomics is concerned with the financial and economic policies of the government agencies.
(b) TRUE
The more stable the economy of a country will be, the more progress will be made in the living standard.
(c) FALSE
The three main aspects of sustainibility are social, environmental and economic.
(d) FALSE
The World Bank has raised the poverty line from $1.25 to $1.90.
(e) TRUE
Various new initiatives are taken to help the poor countries to pay back economic development loans.
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