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15
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What type of unemployment is associated with a negative output gap?
Cyclical or demand-deficient unemployment
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15
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How might a recession create a negative output gap?
Falling aggregate demand causes actual output to fall below potential output.
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15
×
How can investment contribute to economic growth?
It increases productive capacity and efficiency.
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heart
Other team wins 20 points!
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shark
Other team loses 25 points!
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gift
Win 20 points!
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banana
Go to last place!
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15
×
Give one government policy that may increase long-run economic growth.
Spending on education, infrastructure, or research and development.
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15
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What is a positive output gap?
When actual GDP exceeds potential GDP.
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15
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Why does higher productivity promote economic growth?
More output can be produced with the same resources.
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15
×
What is an output gap?
The difference between actual GDP and potential GDP.
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heart
Other team wins 25 points!
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magnet
Take 5 points!
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rocket
Go to first place!
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banana
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15
×
How can education and training increase potential growth?
By improving workers' skills and productivity.
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15
×
ketch a short-run AD/AS diagram t o show how an increase i n aggregate demand causes actual growth.
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banana
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magnet
Take 25 points!
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rocket
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lifesaver
Give 15 points!
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15
×
Name one factor that can increase potential economic growth.
Investment, improved education, technological progress, increased labour force.
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15
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Why may economic growth reduce unemployment?
Firms require more workers to meet higher demand.
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15
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What is productivity?
Output per worker or per hour worked.
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boom
Lose 50 points!
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rocket
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fairy
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banana
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