Final answer:
The statement that economic growth is unanimously agreed upon as desirable and sustainable is FALSE. There is much debate among experts regarding its long-term viability, with some advocating for a steady state economy and others believing in sustainable development through technological innovation.
Step-by-step explanation:
The statement that there is unanimous agreement that economic growth is both desirable and sustainable is FALSE. While economic growth is often seen as a goal for improving a country's standard of living, its desirability and sustainability are subjects of intense debate among economists, environmentalists, and policymakers. Opinions on economic growth vary greatly among nations and institutions, as each has different priorities and situations influencing their macroeconomic goals.
One argument posits that continuous economic growth can lead to environmental damage and is therefore not sustainable in the long run. A steady state economy is suggested as an alternative model to avoid such harm. Meanwhile, another perspective supports the notion that economic growth and environmental quality can coexist if innovations and technologies make production processes more efficient.
It is also noted that the ability of an economy to output determines its growth, and while the U.S. considers economic growth one of its seven major goals, it should be balanced with other factors such as low unemployment and low inflation. Thus, the varying perspectives highlight that there is indeed no consensus on the continuous pursuit of economic growth being either wholly desirable or sustainable.