Economic Growth Revision

Which one is a constraints to economic growth in South Africa?

• Reduce Poverty

• More successful business

• Reduce government expenditure

• Lack of Managerial skills

Economic growth is defined as?

• The decrease in productive capacity of an economy

• The increase of the prices of good within an economy

• The inverse relationship between money and productive capacity

• The increase in productive capacity of an economy

_________ is the effect of inflation remove from the current GDP figures.

• Nominal wage

• Real wages

• CPI

• Real GDP

What is a method to increase economic growth?

• Increase labour productivity

• Reduce government expenditure

• Increase regulations

• increase unemployment

Why is economic growth important?

• To decrease government revenue

• To increase per Capita income

• To limit capital investment

• To stagnate technological advancements

When is an economy in a recession?

• When there are 2 consecutive period of positive growth

• When an economy's revenue exceeds its expenditure

• When there are 2 consecutive periods of negative growth

• When there are 2 consecutive periods of negative capital investment

what is a budget deficit?

• When the governments revenue exceeds it expenditure

• When the government forgets to collect taxes

• When the governments expenditure exceeds its revenue

• When the governments imports exceeds its exports

A developed country often has greater economic growth and a developing country.

• True

• False

Which country is an example of an emerging economy?

• Brazil

• United Kingdom

• Europe

• United Arab Emirates

Which South Africa president primarily focus on economic growth?

• Jacob Zuma

• Cyril Ramaphosa

• Thabo Mbeki

• Nelson Mandela