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1.Economic growth is measured by real GDP.Which one of the following countries experienced the highest economic growth,a) The United States experienced 2,1 % growth in
1.Economic growth is measured by real GDP.Which one of the following countries experienced the highest economic growth,a) The United States experienced 2,1 % growth in real GDP with inflation of almost 0%.b) South Africa experienced a 1,5% increase in nominal GDP and inflation of 6%.c) Ghana experienced an increase of 4,4% in real GDP with inflation of almost 1%.d) India experienced a 10,5% growth in nominal GDP with a 9,3% inflation. 2.Which of the following is an example of a factor that can encourage economic growth through boosting aggregate demand?a)Importing capital goods to explore and extract natural resources such as gold.b)Discovering new deposits of natural resources.c) The growth of the labour force. d) Increasing exports of natural resources like gold and platinum.3. The business cycle shows...a) patterns of upswings and expansion around the long term trend. b) phases of economic cycles as the production output of goods and services fluctuates due to changes in policy,demand factors and supply factors. c) patterns of economic fluctuations along the short term trend. d)phases of economic activities as the production of goods only increases or decreases due to changes in aggregate demand
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