WorksheetsEconomic Growth
Total questions: 15
Worksheet time: 14mins
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
A period of macroeconomic expansion or growth, followed by a period of contraction, or decline.
Business Cycle
Circular Flow
Equilibrium
GDP
What will result in the short run from rising unemployment in an economy?
The government’s budget deficit will fall.
Any existing inflationary pressure will be reduced.
Potential output will fall.
The economy’s production possibility curve will shift inwards
How do literacy rates affect their standard of living?
The higher the literacy rates the lower the standard of living.
The higher the standard of living the lower the literacy rate.
The higher the literacy rates the higher the standard of living.
The lower the literacy rates the higher the standard of living.
What is a life expectancy?
is the average number of years a person can expect to live at any given age
is the average of how much everyone in the country makes
is the lack of both money and the basic necessities needed for life, including: food, water, shelter, healthcare
the amount of babies that die before their first birthday per year
What is the economic growth rate in year 2?
5%
10%
11%
20%
