Economic Performance (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does short-run economic growth represent?
What does short-run economic growth represent?
Using existing resources more fully
In the AD equation, what does represent?
In the AD equation, what does represent?
Net exports
How is a recession officially defined in the UK?
How is a recession officially defined in the UK?
Two consecutive quarters of negative growth
What was the UK's historical trend growth rate before 2008?
What was the UK's historical trend growth rate before 2008?
About 2.5% per year
What fiscal benefit does economic growth provide to governments?
What fiscal benefit does economic growth provide to governments?
Increased tax revenues without raising rates
Which environmental cost is associated with economic growth?
Which environmental cost is associated with economic growth?
Depletion of finite resources
During which phase does actual output exceed trend output?
During which phase does actual output exceed trend output?
Boom
What does a negative output gap indicate?
What does a negative output gap indicate?
Actual output below trend output
What primarily causes economic cycles according to Keynes?
What primarily causes economic cycles according to Keynes?
Changes in consumer & business confidence
What distinguishes sustainable growth from sustained growth?
What distinguishes sustainable growth from sustained growth?
Can continue without resource depletion