Economic growth

Economic growth is a situation where an economy's real GDP increase.

• True

• False

Actual economic growth is a situation where an economy's growth is fueled by high total spending in an economy.

• True

• False

Potential economic growth is a situation where an economy's productive capacity improved.

• True

• False

AD curve shift to right to show potential economic growth

• True

• False

AD curve shift to right to show actual economic growth

• True

• False

LRAS curve shift to right to show potential economic growth

• True

• False

Which of the following is the reason for an actual economic growth to occur?

• Quality of education improved

• Better technology used

• Household's income level increase

• Discovery of new resources

Which of the following are the reasons for a potential economic growth to occur?

• Quality of education improved

• Better technology used

• Household's income level increase

• Discovery of new resources

Economic growth always improve one's living standard.

• True

• False

Achieving economic growth is one of the government objectives.

• True

• False