Economic growth

A country's economy has natural ups and downs in its business cycle.

• True

• False

Which of the following is a problem in the business cycle?

• Value of country's currency

• high exports

• high employment

• Trade externalities

What is a key indicator of economic growth?

The total sum of all goods and services produced in a certain time period.

• GDP per capita

• GDP

• GNP

• GNH

Which of these are things used to calculate GDP?

• Consumer spending

• investor spending

• Government spending

• Tax deductions

The (value of exports-value of imports) is also used to calculate GDP.

• True

• False

Purchasing power parity (PPP) compares economic growth and standards of living in different countries with a common currency/basket of goods approach.

• True

• False

Governments need to always keep ________ moving in order to ensure economic growth

• country

• economy

• business

• population

What can a government do in order to ensure economic growth?

• Keep high employment rates

• increase interest rates

• increase taxes

• print more money

What is important to keep a country growing?

• economic growth

• technological growth

• economic and technological growth

• economic and technological decline