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CH17 - CHAPTER 17 Economic Growth and the New Economy Topic...

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CHAPTER 17 Economic Growth and the New Economy Topic Question numbers ___________________________________________________________________________________________________ 1. Ingredients and graphical analysis 1-32 2. Growth record; growth accounting 33-45 3. The New Economy 46-62 4. Growth debate 63-66 Last Word 67-69 True-False 70-83 ___________________________________________________________________________________________________ Multiple Choice Questions Ingredients and graphical analysis Use the following to answer questions 1-5: Use the following list to answer the following questions: 1. Improvements in technology 2. Increases in the supply (stock) of capital goods 3. Purchases of rising output. 4. Obtaining the optimal combination of goods, each at least-cost production 5. Increases in the quantity and quality of natural resources 6. Increases in the quantity and quality of human resources 1. Refer to the above list. As distinct from the demand and efficiency factors of economic growth, the supply factors of economic growth are: A) 2, 5, and 6 only. B) 2, 4, 5, and 6 only. C) 1, 2, 5, and 6 only. D) 1, 3, 4 only. 2. Refer to the above list. As distinct from the supply factors and efficiency factor of economic growth, the demand factor of economic growth is: Page 1
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3. Refer to the above list. As distinct from the supply factors and demand factor of economic growth, the efficiency factor of economic growth is: 4. Which set of items in the above list would shift an economy's production possibilities curve outward? 5. Which set of items in the above list would shift an economy's long-run aggregate supply curve to the right? A) 1, 2, 5, and 6 only. B) 2, 5, and 6 only. C) 2, 4, 5, and 6 only. D) 1, 3, 4 only. 6. Which of the following is not a supply factor in economic growth? 7. The achievement of full employment through time will: 8. Economic growth can be portrayed as a:
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