This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 12 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What best refers broadly to all new methods of production, which include major scientific inventions but also small inventions and even better forms of management or company organization? A) Capital Deepening. B) Human Capital. C) Physical Capital. D) Technology. Show Answer Correct Answer: D) Technology. 2. Which country is rapidly greying and has a GDP per person of just $ 7, 000 in 2021? A) Japan. B) South Korea. C) Thailand. D) Indonesia. Show Answer Correct Answer: C) Thailand. 3. Which is an example of investing in physical capital by a company? A) Keeping old taxi cabs. B) Keeping old machinery in order to save. C) Purchasing new computer software for the business. D) Training workers new skills for the job. Show Answer Correct Answer: C) Purchasing new computer software for the business. 4. What was the main contributing factor for population growth in Texas from 1900-1930? A) Discovery of gold. B) Invention of the automobile. C) Discovery of oil. D) Cattle drives. Show Answer Correct Answer: C) Discovery of oil. 5. In Country B, the government has offered incentives to companies that invest in improved technology and machinery in their factories. What factor of economic growth is the country working to improve? A) Capital goods. B) Human capital. C) Natural resources. D) Entrepreneurship. Show Answer Correct Answer: A) Capital goods. 6. Draw conclusions based on the results of the study A) To interpret the findings. B) To understand the conclusion. C) To interpret the research. D) To come to conclusion. Show Answer Correct Answer: A) To interpret the findings. 7. Why would a federal government decision to increase spending be a matter of macroeconomic policy? A) Macroeconomics concerns the overall performance of the government. B) Macroeconomics concerns the overall performance of the economy. C) Macroeconomics concerns the performance of households. D) Macroeconomics concerns the performance of small businesses. Show Answer Correct Answer: B) Macroeconomics concerns the overall performance of the economy. 8. What are the challenges faced in achieving sustainable industrial and economic growth? A) Decrease in demand for goods and services. B) Resource depletion, environmental impact, social inequality, and technological innovation. C) Lack of government regulations. D) Political stability and peace. Show Answer Correct Answer: B) Resource depletion, environmental impact, social inequality, and technological innovation. 9. The total value of all goods and services produced within a country during a year is known as ..... A) Human capital or human resources. B) Capital goods or capital resources. C) Gross Domestic Product. D) Mixed Economy. Show Answer Correct Answer: C) Gross Domestic Product. 10. Israel continuously upgrades roads, bridges, and transportation systems to allow for efficient transport of goods throughout the country. This is and example of investing in ..... A) Human capital. B) Capital resources. C) Natural resources. D) None of above. Show Answer Correct Answer: B) Capital resources. 11. What was the total income of the BRIC countries in 2001 as a percentage of the world income? A) 8%. B) 23%. C) 40%. D) 60%. Show Answer Correct Answer: A) 8%. 12. Which country has invested capital goods toward oil and natural gas (energy sector)? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: A) Russia. 13. BMW recently decided to build a manufacturing plant in Shenyang, China. At this plant, BMW is able to take advantage of paying lower wages to its Chinese workers than it pays its German workers, but it also sacrifices the high levels of technical training possessed by its German workers. In deciding to open the Shenyang plant, BMW. A) Faced no trade-offs because employing lower-wage workers increased efficiency. B) Faced a trade-off between higher cost and lower precision. C) Adopted a negative technological change because it replaced high-skilled workers with lowskilled workers. D) Eroded some of its competitiveness in the luxury car market because of its decreased cost of production. Show Answer Correct Answer: B) Faced a trade-off between higher cost and lower precision. 14. Why is Uranium easier to mine than gold? A) It is radioactive. B) It is closer to the surface. C) It is not easier than mining gold. D) None of above. Show Answer Correct Answer: B) It is closer to the surface. 15. Which of the following would not tend to lift Australia's long-term, sustainable rate of economic growth? A) A fall in the female participation rate in the labour force. B) The adoption of best work practice by local firms, managers and employees which increases productivity. C) Encouragement of mineral exploration and R&D to expand our capital resources. D) A decrease in interest rates. Show Answer Correct Answer: A) A fall in the female participation rate in the labour force. 16. What impacts human capital? A) Literacy Rate. B) Exports. C) GDP. D) Consumer Goods tagsS2789894. Show Answer Correct Answer: A) Literacy Rate. 17. GDP per capita is a measure that considers ..... ? A) Total GDP. B) Total population. C) Both GDP and population. D) Neither GDP nor population. Show Answer Correct Answer: C) Both GDP and population. 18. Labor productivity can be incresed by increasing training and education in workers, and investing in their health or incomes. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 19. What is NOT an example of human capital? A) YouTube channel skills. B) Reading skills. C) Math skills. D) Musical abilities. Show Answer Correct Answer: A) YouTube channel skills. 20. Which factor has been least associated with the rapid growth of many economies recently? A) High savings rates as a percentage of national income. B) More efficient mechanisms for transmitting funds from savers to investors. C) More emphasis on detailed government planning. D) More openness to foreign trade and investment. Show Answer Correct Answer: C) More emphasis on detailed government planning. ← 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