Ch 17 Test - Checking the Economy: Economics AGS
A rise in real GDP shows ______ growth.
economic
The growth stage of the business cycle is ______.
expansion
The highest point of a business cycle is called its ______.
peak
When GDP stops growing, the ______ stage of the business cycle begins.
recession
In the formula C=I+G+(X-M), the letter X stands for ______.
exports
GDP does not measure people's ______.
well-being
Business cycles are very ______.
irregular
______ shows an increase in real GDP from one year to the next.
Real economic growth
GDP is the total value of _______ goods and services.
final
Intermediate goods do not count toward GDP because they have not reached the ______.
final user
Negative results of economic growth do not include ______.
having more money to spend
Economic growth results in a higher ______.
standard of living
When an economy grows, a government can raise ______ to help support people and programs.
taxes