Exam 15: Economic Growth

To calculate real GDP for each year,the value of goods and services is measured in the actual prices of each year.

A major goal of long-run economic policy is to:

Which of the following policies does not shift the aggregate supply curve to the right?

According to supply-side economists,which of the following encourages economic growth?

The production possibilities curve represents the:

Output per labor hour is used to measure:

If GDP per capita grows at a constant rate of 9 percent per year,using the "rule of 72" it will take approximately ___ years for GDP per capita to double.

Productivity is definitely enhanced by:

Which of the following policies does not shift the aggregate supply curve to the right?

Short-run economic growth comes from:

Continual increases in GDP per capita are most likely to come from:

Using the "rule of 72" approximately how long will it take for productivity to double with a constant productivity growth rate of 1.5 percent per year?

Which of the following can reduce the level of long-run economic growth?

When an economy moves from a point inside its production possibilities curve to a point on the curve,potential GDP has increased.

The growth rate refers to the change in _______ from one period to another.

In recent decades,a primary source of long-run growth in U.S.output has been:

Economic growth is a(n)_______ process.

A major goal of short-run macroeconomic policy is to move to a point on the _____ curve.

If real GDP per capita grows at a constant rate of 4 percent per year,using the "rule of 72" it will take approximately ___ years for real GDP to double.

Long-run macroeconomic policy focuses on shifting the: