This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 17 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 17 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. When an economy produces more output per capital the economy is said to be having A) Inflation. B) Economic growth. C) Economic planning. D) Living standard. Show Answer Correct Answer: B) Economic growth. 2. An economic recession is defined as ..... A) Two consecutive quarters of economic contraction. B) Two consecutive weeks of economic contraction. C) Two consecutive months of economic contraction. D) Two consecutive years of economic contraction. Show Answer Correct Answer: A) Two consecutive quarters of economic contraction. 3. What will generally happen to the aggregate demand curve when consumer confidence is too low? A) AD Curve shifts left. B) No change in the AD curve. C) AD Curve slopes up. D) AD Curve shifts right. Show Answer Correct Answer: A) AD Curve shifts left. 4. In a production possibilities frontier model, a point ..... the frontier is productively inefficient. A) Along. B) Inside. C) Outside. D) At either intercept of. Show Answer Correct Answer: B) Inside. 5. Which of the following is NOT a form of capital? A) Knowledge. B) Machinery. C) Tools. D) Workers. Show Answer Correct Answer: D) Workers. 6. What are the costs of economic growth for consumers? A) Increase in inequality. B) Increase in consumer confidence. C) Decrease in demand-pull inflation. D) Decrease in shoe leather costs. Show Answer Correct Answer: A) Increase in inequality. 7. Which country has invested capital good toward telecommunications? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: C) United Kingdom. 8. What measures could help India take advantage of Western efforts to shift supply chains out of China? A) Privatisation and looser foreign-investment rules. B) Increased retirement ages and financial market reforms. C) Improved health insurance and social care. D) Higher female participation in the labour force. Show Answer Correct Answer: A) Privatisation and looser foreign-investment rules. 9. Which of these natural resources is in extremely short supply in the Middle East? A) Water. B) Coal. C) Iron. D) Oil. Show Answer Correct Answer: A) Water. 10. A resource used to produce a good or service A) Manufacturing. B) Building. C) Productive resource. D) Creation. Show Answer Correct Answer: C) Productive resource. 11. Low labour mobility can lead to unemployment: A) No, it cannot. B) Yes, structural unemployment. C) Yes, cyclical unemployment. D) Yes, general unemployment. Show Answer Correct Answer: B) Yes, structural unemployment. 12. The (value of exports-value of imports) is also used to calculate GDP. A) True. B) False. Show Answer Correct Answer: A) True. 13. Which of the following is a criticism of using expansionary fiscal policy? A) There is a multiplier effect. B) Fiscal policy is highly ineffective in solving demand-deficient recessions. C) The government may need to run a budget deficit. D) The economy will not necessarily self-correct when aggregate demand isdepressed. Show Answer Correct Answer: C) The government may need to run a budget deficit. 14. America's ..... is calculated by adding up consumer spending, government spending, national investments and net exports. A) Per capita. B) Gross domestic product. C) Inflation. D) None of above. Show Answer Correct Answer: B) Gross domestic product. 15. Who would be most likely to OPPOSE the concept of 'Free Silver' and the Populist Party? A) Bankers. B) Soldiers. C) Farmers. D) None of above. Show Answer Correct Answer: A) Bankers. 16. Export A) The materials that come from nature, such as land, forests, minerals, water, etc. B) A physical object that is sold to make money. C) A good means to send it to another country to be sold. D) To bring in a good from another country to sell. Show Answer Correct Answer: C) A good means to send it to another country to be sold. 17. A calculation of what a nation is worth A) Investment. B) GDP. C) GDP per capita. D) Human capital. E) Relationship. Show Answer Correct Answer: B) GDP. 18. A nation with a high GDP invests in human capital A) True. B) False. Show Answer Correct Answer: A) True. 19. "per capita" means A) Per person. B) Per student. C) Grade point average. D) New video game app. Show Answer Correct Answer: A) Per person. 20. A country that wants to focus on policies promoting economic growth should prioritize ..... ? A) Restricting trade with other nations. B) Investing in education and training. C) Reducing the size of its population. D) Maintaining high interest rates. Show Answer Correct Answer: B) Investing in education and training. ← 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