1.
Which of the following is the most commonly used measurement of economic growth? Changes in
a.real GDP
b.the money supply
c.nominal GDP
d.the federal government debt
e.the level of international trade
2.
Which phase of the business cycle best describes an economy that is experiencing a positive rate of economic growth?
a.expansion
b.peak
c.contraction
d.trough
e.depression
3. Which of the following terms is used to describe the purchase of capital?
a.savings
b.consumption
c.technology
d.investment
e.production
Which of the following is the most commonly used measurement of economic growth? Changes in
a.real GDP
b.the money supply
c.nominal GDP
d.the federal government debt
e.the level of international trade
2.
Which phase of the business cycle best describes an economy that is experiencing a positive rate of economic growth?
a.expansion
b.peak
c.contraction
d.trough
e.depression
3. Which of the following terms is used to describe the purchase of capital?
a.savings
b.consumption
c.technology
d.investment
e.production