What primarily drives short-run growth?

4.2.3.1 Economic growth and the economic cycle NOTES

Quiz
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Social Studies
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Professional Development
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Hard

James Hannaford
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Improvements in human capital
Technological progress
Capital accumulation
Changes in aggregate demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor is a key determinant of long-run economic growth?
Consumer confidence
Technological innovation
Business cycles
Supply shocks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a positive output gap indicate?
An overheating economy
Economic underutilization
Downward pressure on prices
Unemployment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of economic growth?
Depletion of natural resources
Higher living standards
Income inequality
Environmental degradation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a negative output gap a signal of?
Technological advancement
Upward pressure on prices
Economic underutilization
High demand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which determinant affects short-run growth due to changes in resource prices or natural disasters?
Global economic conditions
Consumer spending
Supply-side determinants
Demand-side determinants
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the impact of long-run growth on the economy?
Exacerbation of inequality
Strain on infrastructure
Increased tax revenues
All of the above
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