This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 10 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which country has been building more schools in rural areas, improving roads and providing more electricity in order to help it's economy grow? A) Kenya. B) Sudan. C) South Africa. D) Nigeria. Show Answer Correct Answer: A) Kenya. 2. What is the Economic growth rate at the moment A) 0.67. B) 1.2. C) 0.94. D) 0.8. Show Answer Correct Answer: D) 0.8. 3. The total value of goods and services produced within the borders of a country during a specific time period, usually one year. A) GDP. B) GNI. C) GDP per capita. D) HDI. Show Answer Correct Answer: A) GDP. 4. Who started and owned the largest Cattle Ranch in Texas? A) Oliver Loving. B) Richard King. C) Charles Goodnight. D) Bill Pickens. Show Answer Correct Answer: B) Richard King. 5. What are the different types of capital goods? A) Machinery, equipment, vehicles, and buildings. B) Raw materials, labor, and technology. C) Consumer goods, services, and natural resources. D) Money, stocks, and bonds. Show Answer Correct Answer: A) Machinery, equipment, vehicles, and buildings. 6. What is Capital Goods? A) Goods and tools that are used in producing other goods, rather than being bought by consumers. B) Good and tools purchased rather than imported to another country. C) Goods and tools manufactured in a country rather than bought by businesses. D) Goods and tools shipped globally rather than being exported internationally. Show Answer Correct Answer: A) Goods and tools that are used in producing other goods, rather than being bought by consumers. 7. Take off stage' in an economy means A) Steady growth begins. B) Economy is stagnant. C) Economy is about to collapse. D) All controls are removed. Show Answer Correct Answer: A) Steady growth begins. 8. The word Vigilante means: A) People who didn't obey the law. B) People who obeyed the law. C) People who kept a lookout for Indian attacks. D) People who took the law into their own hands. Show Answer Correct Answer: D) People who took the law into their own hands. 9. Nominal GDP can rise in value because of two of the below reasons. Which reason is not correct? A) The output of the country increases. B) The general level of prices in the country decreases. C) The general level of prices in the country increases. D) None of above. Show Answer Correct Answer: B) The general level of prices in the country decreases. 10. What was the purpose of raising protective tariffs during the 1920s? A) Lower consumer prices. B) Protect domestic industries from foreign competition. C) Promote free trade agreements. D) Encourage foreign investment. Show Answer Correct Answer: B) Protect domestic industries from foreign competition. 11. High interest rates will benefit ..... A) Borrowers. B) Businesses wanting to invest. C) Savers. D) Businesses wanting to expand. Show Answer Correct Answer: C) Savers. 12. Which was a major result of the Homestead Act of 1862? A) Increased public awareness of the need for conservation of natural resources. B) Increased development of western lands. C) Decreased conflicts between American Indians and white settlers. D) Decreased economic opportunities for easterners. Show Answer Correct Answer: B) Increased development of western lands. 13. Which of the following statements accurately describes Demand-side sources of economic growth? A) Demand-side sources of growth focus on increasing the factors of production, such as labor and capital. B) Demand-side growth is driven by technological advancements and improvements in efficiency. C) Demand-side sources emphasise boosting consumer spending and government expenditure. D) Demand-side sources primarily involve increasing exports and improving international trade. Show Answer Correct Answer: C) Demand-side sources emphasise boosting consumer spending and government expenditure. 14. What is the lowest point of the actual growth line called? A) Boom. B) Slowdown. C) Recession. D) Trough. Show Answer Correct Answer: D) Trough. 15. If there is an improvement in technology then the ..... A) AD curve shifts right. B) AD curve shifts left. C) AS curve shifts right. D) AS curve shifts left. Show Answer Correct Answer: C) AS curve shifts right. 16. Human resources can be developed through education and health care. A) True. B) False. Show Answer Correct Answer: A) True. 17. What are the two ways you can invest in human capital? A) Education and training. B) Training and capital goods. C) Education and healthcare. D) None of above. Show Answer Correct Answer: C) Education and healthcare. 18. What is an unavoidable cost of long-run economic growth? A) An increase in inflation. B) An increase in the working hours of the population. C) A sacrifice of potential present consumption. D) Greater inequality in the distribution of income. Show Answer Correct Answer: C) A sacrifice of potential present consumption. 19. What is the main industry contributing to Bangladesh's wealth? A) Textile and garment industry. B) Agriculture. C) Technology. D) Mining. Show Answer Correct Answer: A) Textile and garment industry. 20. What are some examples of government policies that can promote economic development? A) Increasing taxes on businesses, reducing government spending, implementing strict regulations on businesses, limiting international trade, cutting funding for education and training programs. B) Investment in infrastructure, tax incentives for businesses, deregulation, trade policies, education and training programs. Show Answer Correct Answer: B) Investment in infrastructure, tax incentives for businesses, deregulation, trade policies, education and training programs. ← PreviousNext →Related QuizzesMacroeconomics QuizzesEconomics QuizzesEconomic Growth Quiz 1Economic Growth Quiz 2Economic Growth Quiz 3Economic Growth Quiz 4Economic Growth Quiz 5Economic Growth Quiz 6Economic Growth Quiz 7Economic Growth Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books