
2.5 The Economic Cycle
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12th Grade
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of short-run economic growth?
An increase in the potential productive capacity of the economy.
The actual annual percentage change in real GDP
A decrease in the potential productive capacity of the economy.
The actual annual percentage change in nominal GDP
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of long-run economic growth?
The actual annual percentage change in real GDP
An increase in the potential productive capacity of the economy.
A decrease in the potential productive capacity of the economy.
The actual annual percentage change in nominal GDP
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary cause of an increase in economic growth in the short run?
Increase in aggregate demand
Decrease in aggregate demand
Increase in long-run aggregate supply
Decrease in short-run aggregate supply
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the equation C + I + G + (X-M) represent?
Aggregate Supply
Aggregate Demand
Short-Run Aggregate Supply
Long-Run Aggregate Supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic growth can also occur if there is an increase in which of the following?
Long-run aggregate supply
Short-run aggregate supply
Aggregate demand
Aggregate supply
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
SRAS will increase if there is a change in which of the following?
Consumer preferences
Costs of production
Government policies
Technological advancements
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an increase in AD to AD1 indicate in the short-run economic growth diagram?
A decrease in economic growth
An increase in economic growth
No change in economic growth
A decrease in the price level
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