Economic Growth

Question 1

When economists determine that a nation’s GDP has declined, they can point to this as a sign of

Revolt · Accepted Answer

economic shrinkage.

Question 2

Economic growth takes place when a country

Revolt · Accepted Answer

produces more goods and services.

Question 3

An increase in gross domestic product (GDP) is a sign that a country’s economy is

Revolt · Accepted Answer

growing.

Question 4

Which unemployment rate do most economists consider to be acceptable in the United States?

Revolt · Accepted Answer

5 percent

Question 5

Jim lost his job in a car assembly factory to a robot and his skills will no longer be needed. Which terms can be used to describe Jim? Select two options.cyclically unemployeddomestically unemployedfrictionally unemployedstructurally unemployedstill employedunemployed

Revolt · Accepted Answer

structurally unemployed; unemployed

Question 6

Sometimes an economy cannot grow because of external factors, such as

Revolt · Accepted Answer

low demand for exports.

Question 7

The graph shows changes in GDP in the United States from 2009 to 2011.How did the contribution of the services sector to GDP change between 2009 and 2011?

Revolt · Accepted Answer

It rose significantly.

Question 8

This circle graph shows historical information about Bolivia’s workforce. What does the graph indicate about Bolivia’s labor force in 2010?

Revolt · Accepted Answer

Industry workers made up the smallest share of the workforce.

Question 9

Economists use gross national product (GNP) to measure

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the output of a nation’s citizens, regardless of where they are.

Question 10

The graph shows unemployment rates in the United States in recent years.Which statement is the most accurate explanation of the information on the graph?

Revolt · Accepted Answer

The United States suffered an economic downturn starting in 2009.

Economic Growth Answers

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