This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 19 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 19 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How is the economic growth of a country measured? A) By comparing to other countries. B) By analyzing natural and produced resources. C) By studying the types of cars and houses the citizens purchase. D) By comparing the GDP of different years. Show Answer Correct Answer: D) By comparing the GDP of different years. 2. Income that we don't spend or not used for consumption A) PI. B) DPI. C) NNP. D) Savings. Show Answer Correct Answer: D) Savings. 3. The knowledge and skills of the people in the workforce within a country A) Investment. B) GDP. C) GDP per capita. D) Human capital. E) Relationship. Show Answer Correct Answer: D) Human capital. 4. Which of the following is not part of an import substitution development strategy? A) Tax incentives to encourage FDI. B) Tariffs on imported manufactured goods. C) Subsidies to domestic manufacturing businesses. D) Low-interest loans to domestic industries . Show Answer Correct Answer: A) Tax incentives to encourage FDI. 5. What negative effect did gold and silver mining have on the West? A) Tent cities near the mines fostered criminals as long-term residents. B) Ghost towns were left behind after the mines stopped producing. C) Mining camps were sources of many contagious diseases. D) Mass migration from the East Coast led to social tension among merchants. Show Answer Correct Answer: B) Ghost towns were left behind after the mines stopped producing. 6. Which government agency is responsible for creating plans for and coordinating economic development across all sectors? A) NEDA. B) DPWH. C) Department of Finance. D) None of above. Show Answer Correct Answer: A) NEDA. 7. The knowledge, skills, and relative health of a nation's labor force/ A) Human Capital. B) Capital Good. C) Literate. D) Standard of living. Show Answer Correct Answer: A) Human Capital. 8. What do we use National Income for? A) To predict the weather patterns. B) To determine the best vacation spots. C) To measure the economic performance of a country and compare the standard of living between different countries. D) To calculate the population growth rate. Show Answer Correct Answer: C) To measure the economic performance of a country and compare the standard of living between different countries. 9. In Australia, what is the proportion of investment (I) in national income? A) 20%. B) 10%. C) 5%. D) 40%. Show Answer Correct Answer: A) 20%. 10. What is export led growth? A) When countries close their economies to the international market. B) When countries open up their economies to the international market. C) When countries focus only on domestic production. D) When countries reduce their export activities. Show Answer Correct Answer: B) When countries open up their economies to the international market. 11. What does HDI look at? A) A long and healthy life:Life expectancy at birth, Education index:Mean years of schooling and Expected years of schooling, A decent standard of living:GNI per capita. B) Life expectancy from birth to death, ability to access school, A decent standard of living:GNI per capita. C) Education index:Mean years of schooling and Expected years of schooling, A decent standard of living:GNI per capita. D) Ability to access school, A decent standard of living:GNI per capita, Happiness index. Show Answer Correct Answer: A) A long and healthy life:Life expectancy at birth, Education index:Mean years of schooling and Expected years of schooling, A decent standard of living:GNI per capita. 12. Define "economic growth" . What is the meaning of Economic Growth? A) Continuous increaseContinuous increase. B) An increase in the production of goods and services in an economy. C) An increase that occurs in a certain timeAn increase that occurs in a certain time. D) Peningkatan dalam hal kinerja tenaga kerja sehingga meningkatkan produktifitas barang dan jasa (ekspor dan impor)An increase in labor performance to boost productivity of goods and services (exports and imports). Show Answer Correct Answer: B) An increase in the production of goods and services in an economy. 13. What is GDP per capita? A) The annual income of citizens within a nation. B) The countries import and export costs. C) The amount of banks that open in a certain area. D) The amount of houses and building that are constructed. Show Answer Correct Answer: A) The annual income of citizens within a nation. 14. What is one potential advantage of achieving strong and sustainable economic growth? A) Increased environmental degradation. B) Improved living standards for the population. C) Higher levels of income inequality. D) Short-term economic gains without long-term consequences. Show Answer Correct Answer: B) Improved living standards for the population. 15. You don't need formal education to develop your human resources. A) True. B) False. Show Answer Correct Answer: A) True. 16. Why might supply-side policies alone not solve the problem of deficient aggregate demand during a recession? A) Because supply-side policies increase demand. B) Because supply-side policies take time to have an effect and do not directly stimulate demand. C) Because supply-side policies immediately solve the problem of deficient aggregate demand. D) None of the above. Show Answer Correct Answer: B) Because supply-side policies take time to have an effect and do not directly stimulate demand. 17. A skill is an area of expertise or the ability to carry out specific job functions. A) Resource. B) Order. C) Skill. D) Manager. Show Answer Correct Answer: C) Skill. 18. How many parts is the General Assembly divided into? A) 2. B) 3. C) 4. D) 5. Show Answer Correct Answer: A) 2. 19. Which of these examples would describe growth due to technology? A) Harvard College was founded in 1636 and is still open to this day. B) German inventor Johannes Gutenberg invented the printing press. C) The U.S funded the building of the Panama Canal, completed in 1914. D) NAFTA was created to promote trade among the North American countries. Show Answer Correct Answer: B) German inventor Johannes Gutenberg invented the printing press. 20. What is the term for a good that is impossible to prevent people from accessing? A) Rival good. B) Non-rival good. C) Excludable good. D) Non-excludable good. E) Ample reserves. Show Answer Correct Answer: B) Non-rival good. ← 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