MA04 Self Learning Checkpoint

Economic growth is a situation where an economy’s real GDP increases

• True

• False

Actual economic growth is a situation where an economy’s growth is fuelled by high total spending in an economy.

• True

• False

 

Potential economic growth is a situation where an economy’s productive capacity improved.

• True

• False

AD curve shifts to right to show potential economic growth.

• True

• False

AD curve shifts to right to show actual economic growth.

• True

• False

LRAS curve shifts 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

• Government spending increased

• Discovery of new resources

Which of the following is/are the reason(s) for a potential economic growth to occur? (Choose all that apply)

• Quality of education improved

• Better technology used

• Government spending increased

• Discovery of new resources