Economic Growth Questions
The following is a guide to prepare for the topic of Economic Growth, this document excludes
any kind of notes and is strictly dedicated to Questions.
1. What is Economic Growth?
2. How is Economic Growth measured?
3. Distinguish between Potential Growth and Actual Growth.
4. Using a Production Possibility Curve, explain Economic Growth.
5. Explain the trade/business cycle, using the graph.
6. List and briefly explain 3 advantages of Economic Growth.
7. List and briefly explain 3 disadvantages of Economic Growth.
8. What are the five factors that determine Economic Growth?
9. What is a Recession/ Economic Contraction?
10. Distinguish between Potential Growth and Actual Growth.
11. How is a Recession measured?
12. What is Economic Growth?
13. What are four factors that determine a recession?
14. List and briefly explain 3 advantages of Economic Growth.
15. List and briefly explain 3 disadvantages of Economic Growth.
16. Explain how the Monetary Policies (RRR, OMO, Discount Rate) can be used to remove
a recession.
17. How is Economic Growth measured?
18. Explain how the Fiscal Policies (Any ONE tax and government spending) can be used to
remove a recession.
19. Explain the trade/business cycle, using the graph.
20. What is Economic Development?
21. What is a Recession/ Economic Contraction?
22. List 4 non-economic ways in which economic development is measured.
23. What are the four factors that determine economic development?
24. What are four factors that determine a recession?
25. What are the three factors used to measure the Human Development Index of a
country?
26. The ranges of HDI values mean: a. Greater than 0.8/ b. Less than 0.5/ c. between 0.51
and 0.79
27. Distinguish between a developed country and a developing country.
28. Explain how the Monetary Policies (one of your choice) can be used to remove a
recession.
29. What are three characteristics of a developing country?
30. Explain how the Fiscal Policies (one of your choice) can be used to remove a recession
31. List 3 SOCIAL indicators of a developing country.
32. What are the four ways the government should examine in attempting to achieve
economic development?