'Is Economic growth purely beneficial?'
Yes (beneficial):
-Increase in GDP, increase in disposable income, increase in standard of living, increase in consumption, increase in AD --> multiplier effect
Depends on who experiences the economic growth, if it results in greater disparity between social classes it may lead to unrest
-Producing more goods and services, relying on importing less, so less volatile to exogenous shocks, greater price stability
No (not always beneficial):
-Greater production of goods and services increase carbon emissions which is a negative externality on a third party
-It also depends on how much spare capacity remains in the economy (is then shown with a diagram)
NM
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