Answer: Economic growth will be negatively affected as there will be a decline in the demand for goods and services.
Explanation:
Economic growth is the increase in the output of goods and services in the economy. A consumption tax on goods consumed would lead to an increase in price which in turn, leads to a fall in the real income of comsumers.
The fall in real income of consumers will lead to reduction in the demand of goods which will also lead to the reduction in the GDP of a country.
Answer: The Third statement
Explanation: From Gans highlights, it can be deduced that there are poor people in the society, and basically what this passage says is that "Poor people tend to contribute positively to the society for affluent members" which means that there is an hierarchy in the society and the poor people are positive contributors. This leads to the third statement that "Within a relatively hierarchical society, the existence of poor people guarantees the higher status of the more affluent" because of the positive economic, political, and social functions they contribute.
<span>President Hoover called for a minimal government role in changing the economy.</span>
