Which two major issues are concerned with economic growth?
(i) Short- run issue of ensuring that actual growth is such that actual output is as close as possible to the potential output of an economy
(ii) Only short- run issues related to fluctuations in the business cycle
(iii) Long- run issues addressing what determines the rate of potential economic growth
(iv) Monitoring of income and living standards
A) (i) and (iv)
B) (i) and (iii)
C) (ii) and (iii)
D) (iii) and (iv)
Correct Answer:
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Q1: An individual who has a job but
Q3: Gross domestic product (GDP) is
A) the total
Q4: Gross domestic product (GDP) measured in current
Q5: Which of the following is not a
Q6: The largest income component of GDP is
Q7: Which of the following events would lead
Q8: Which of the following defines potential growth?
Q9: The largest income component of GDP is
A)
Q10: Of the following, the smallest income component
Q11: Actual output cannot grow faster than_ over
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