This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 18 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. True or False:Robber Barons used both vertical and horizontal integration to form their monopolies. A) True. B) False. Show Answer Correct Answer: A) True. 2. When economic growth is high in a country which of the following would you NOT expect to see? A) Increased construction. B) Increased unemployment. C) Increased number of businesses. D) Increased inequality. Show Answer Correct Answer: B) Increased unemployment. 3. Climatic extremes A) Environmental recovery. B) Welfare of population. C) Farming policy. D) Climate emergencies. Show Answer Correct Answer: D) Climate emergencies. 4. What is meant by Low Capital Formation? A) Low public desire to start a business. B) People prefer to spend their money abroad. C) Low public desire to save and invest. D) None of above. Show Answer Correct Answer: C) Low public desire to save and invest. 5. If China's economy is larger than that of Taiwan, then it MUST be true that A) China has an absolute advantage over Taiwan. B) Chinese citizens are more productive than Taiwanese citizens. C) China has a highe r GDP per capita than Taiwan. D) Chinese citizens have greater consumer surplus than Taiwanese citizens. E) China has fewer trade barriers than Taiwan. Show Answer Correct Answer: A) China has an absolute advantage over Taiwan. 6. Boomtowns were mostly occupied by: A) Railroad workers. B) Homesteaders. C) Miners. D) Cowboys. Show Answer Correct Answer: C) Miners. 7. What entitlements do individuals have that affords them the opportunity to enter into agreements with others regarding the use of their property providing recourse through the legal system in the event of noncompliance? A) Contractual Rights. B) Let it happen. C) Production Functions. D) Rule of Law. Show Answer Correct Answer: A) Contractual Rights. 8. What factor of economic growth is People who provide the money to start and operate a business? A) Natural Resources. B) Human Capital. C) Capital Goods. D) Entrepreneurship. Show Answer Correct Answer: D) Entrepreneurship. 9. Improved standard of health care would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: C) Net social welfare. 10. Greater leisure time would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: C) Net social welfare. 11. Man-made resources used in the production process i.e. machines in a factory. A) Labour. B) Capital. C) Household. D) Revenue. Show Answer Correct Answer: B) Capital. 12. The three main determinants of growth are A) Energy, technological change and education. B) Workforce, machines and investments. C) Labour, capital and technological progress. D) None of above. Show Answer Correct Answer: C) Labour, capital and technological progress. 13. What is the main policy to deal with economic recession? A) Promote economic stability. B) Promote economic inflation. C) Promote economic growth. D) Promote economic inequality. Show Answer Correct Answer: C) Promote economic growth. 14. Which person demonstrated entrepreneurship? A) Mateo worked hard every day at a grocery store, so his boss gave him a raise. B) Benjamin invested all of his money in the stock of a very popular coffee company. C) Maria wanted a new smartphone, so she saved her paychecks until she could afford it. D) Kara learned to code and started a company designing websites for other businesses. Show Answer Correct Answer: D) Kara learned to code and started a company designing websites for other businesses. 15. A country investing in the health of their citizens. A) Human capital. B) Capital goods. Show Answer Correct Answer: A) Human capital. 16. Given MPM = 0.3, MPS = 0.2, and MPT = 0.2 Given an injection of £20 million in exports.Find the FINAL GDP increase. A) £27.6 million. B) £28.6 million. C) £28 million. D) £26.5 million. Show Answer Correct Answer: B) £28.6 million. 17. What effects occurred as the result of the Galveston Hurricane? A) Built a sea wall to protect buildings from large waves. B) Influenced cities to rebuilt its government by having a city commission. C) Major industries in Galveston moved inland to Houston. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. What is the Transcontinental Railroad? A) A railroad system that connected the entire United States. B) A railroad that connected the east coast to Alaska. C) A railroad that crossed the Atlantic Ocean. D) None of above. Show Answer Correct Answer: A) A railroad system that connected the entire United States. 19. Which country's economy has the most government control out of all the countries in the world? A) China. B) North Korea. C) The United States. D) Cuba. Show Answer Correct Answer: B) North Korea. 20. Water, fish, and trees are all examples of ..... A) Geography. B) Basin. C) Erosion. D) Natural resources. Show Answer Correct Answer: D) Natural resources. ← 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