6344592
Description
Quiz by Nikolas Reece, updated more than 1 year ago
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Created by Nikolas Reece
almost 8 years ago
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Question 1
Question
Which of the following is the MAIN economic goal of the government.
Answer
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stabilise the economy
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low inflation levels
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increase GDP
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low unemployment level
Question 2
Question
The MOST accurate benefits of government achieving its main economic goal is:
Answer
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more attractive for tourism
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higher standard of living
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another 5 yer term in government
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more money for each citizen
Question 3
Question
All of the following are drivers of economic growth EXCEPT:
Answer
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Human capital
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Land and other natural resources
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A large dependent population
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Technological advancements
Question 4
Question
How is economic growth measured?
Answer
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By changes in real national income
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By changes in gross domestic product
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By accumulation of capital goods
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By infrastructural changes
Question 5
Question
As it relates to economic growth, the diagram represents:
Answer
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The point in the PPF where resources are unattainable
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The point in the PPF where resources are lying idle
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A recession
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Output has increased in the economy
Question 6
Question
Which of the following describes the diagram above as it relates to changes in the economy
Answer
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negative growth
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positive growth
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The point where resources are underutilized in the economy
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Gross Domestic Product
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