1.) Over the course of human history:

a. economic growth has brought about substantial gains in incomes and standards of living in many countries.

b. all countries have achieved substantial gains in per capita GDP since the 19th century.

c. economic growth follows a steady, long-term upward path.

2.) In the long run, important sources of an increase in a nation's economic growth include(s):

Select all that applies:

High rate of labor force growth

zero rate of population growth

high school graduation rates

3.) In an AD/AS model:

Select all that applies:

the price level is shown on a vertical axis

real GDP is shown on the horizontal axis

the potential GDP curve always slopes downward from left to right

4.) Events that can cause a shift in the aggregate demand might include:

select all that applies:

Technological innovation

loss of consumer confidence

business expectations of a strong holiday season

5.) Which of the following concepts describes an economy producing at its potential and unemployment at the natural rate of unemployment.

a. the interest rate effect

b. the foreign price effect

c. stagflation

d. Full employment GDP