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Real Gross Domestic Product (GDP) and how it can
be used to measure economic growth. GDP per head
(capita).

  • Meaning of recession and how a recession moves the
    economy within its PPC.

  • How changes in total demand may increase the
    utilisation of resources and GDP resulting in a
    movement from inside toward the PPC.

  • How economic growth shifts the economy’s PPC to
    the right and is caused by changes in investment,
    technology, and the quantity and quality of the
    factors of production.

  • The costs and benefits of economic growth in the
    context of different economies.

  • The range of policies available to promote economic
    growth and how effective they might be.

Review of Unit 4

Questions and suggested answers

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