2) Which of the following statements is true about economic growth?

A. Economic growth is a short-run process

B. Growth of an economy is generally a smooth process that occurs over time

C. Economic growth is a long-run process resulting from the compounding of many events

D. To measure economic growth, economists analyze changes in the national debt

E. The U.S. economy has never experienced a year of negative economic growth

3) Which of the following is a "pro-growth" economic policy?

A. Raising the tax on capital gains

B. Encouraging people to save less

C. Reducing public dollars available for education

D. Investing in human capital

E. None of the above

9) What is the result of a growing labor force?

A. Lower rates of interest in the capital market

B. Higher rates of unemployment

C. The economy's production possibilities curve shifts outward

D. The economy's production possibilities curve shifts inward

E. The economy's rate of growth must slow to accommodate more people

11) Which of the following statements is true?

A. In the foreseeable future, real GDP will grow slower than the U.S. population

B. Based on past economic performance, it is likely that standards of living in the U.S. will fall during the early part of the 21^stcentury

C. Real per capita GDP will likely increase in the near future due in part to the slowdown in the rate of population growth

D. In economics, the past is a very poor predictor of the future

E. The rate of economic growth does not affect individual people

15) What is technology?

A. The tools of production

B. The human input of production

C. Computers, robots, and factories

D. The means and methods of production

E. The mix of labor and capital used in production