Economic Growth Unit 5

Question 1

What is economic growth?

Answer 1

Economic growth is the increase in the production of goods and services in an economy over a period of time.

Question 2

True or False: Economic growth can be measured by the increase in a country’s Gross Domestic Product (GDP).

Answer 2

True

Question 3

Fill in the blank: Economic growth is often driven by increases in _____, technological advancements, and improvements in productivity.

Answer 3

capital investment

Question 4

Which of the following is a common indicator of economic growth? A) Inflation Rate B) Unemployment Rate C) GDP

Answer 4

C) GDP

Question 5

What role do government policies play in economic growth?

Answer 5

Government policies can influence economic growth through taxation, spending, and regulation, impacting investment and consumption.