AD curve shift to right to show potential economic growth
B321 MA04 Economic growth Recap

Quiz
•
Business
•
University
•
Hard
S Lee
Used 6+ times
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
True
False
Answer explanation
AD curve shifts to the right to show actual economic growth.
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
a) Increase interest rates
b) Increase taxation rates
c) Provide incentives to invest
d) Provide incentives to save
Answer explanation
real GDP = C + I + G + (X-M)
3.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
An outward shift in the PPF depicts
Potential Economic Growth
Actual Economic Growth
Economic Contraction
A recession
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An outward shift in the PPC corresponds to _____ of the long-run aggregate supply curve.
a leftward shift
a rightward shift
constant value
an indeterminate shift
Answer explanation
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
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
Answer explanation
Actual economic growth is when AD shifts right (demand sided). Increase income will increase consumption.
6.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Which of the following policies is a supply-sided policy and can be used for economic growth
Increased government spending
Increased education and training for workers
Increased exports
Decreased rates of interest
Answer explanation
Increase in the quality and quantity of FOP will increase LRAS (supply side).
7.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
What is the economic growth rate in year 2?
5%
10%
11%
20%
Answer explanation
change in GDP = [(220-200)/200] x 100 = (20/200) x 100 = 10%
8.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A recession is
negative real GDP over 2 successive quarters
negative real GDP for 1 quarter
a reduction general price level over two successive quarters
a reduction in investment over a whole year
9.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An inward shift in the PPF depicts
Actual Economic Growth
Economic Contraction
Potential Economic Growth
A recession
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