This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 20 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 20 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is a concern related to tied aid in developing countries? A) It promotes economic development. B) It reduces demand for skilled workers. C) It encourages domestic production. D) It leads to dependency on the donor country. Show Answer Correct Answer: D) It leads to dependency on the donor country. 2. Which South Africa president primarily focus on economic growth? A) Jacob Zuma. B) Cyril Ramaphosa. C) Thabo Mbeki-The Best Of Thabo Mbeki. D) Nelson Mandela. Show Answer Correct Answer: C) Thabo Mbeki-The Best Of Thabo Mbeki. 3. Economic growth can be seen by an outward shift of A) The Production Possibility Curve. B) The Gross Domestic Barrier. C) The Marginal Consumption Frontier. D) The Minimum Efficient Scale. Show Answer Correct Answer: A) The Production Possibility Curve. 4. Discuss the limitations of using GDP as a measure of economic growth. A) GDP accounts for all economic activities. B) GDP reflects the quality of life accurately. C) GDP does not account for informal economy, non-market transactions, income distribution, quality of life, and environmental impact. D) GDP accurately measures income distribution. Show Answer Correct Answer: C) GDP does not account for informal economy, non-market transactions, income distribution, quality of life, and environmental impact. 5. Supports strong tertiary, quaternary, and quinary sectors. A) Stage 1:Traditional Society. B) Stage 2:Pre-Condition for Take-Off. C) Stage 3:Take-Off. D) Stage 4:Drive to Maturity. E) Stage 5:High Mass Consumption. Show Answer Correct Answer: E) Stage 5:High Mass Consumption. 6. True or False:Plessy v Ferguson upheld segregation with the ruling that facilities could be "separate but equal." A) True. B) False. Show Answer Correct Answer: A) True. 7. Thomas is a member of the House of Delegates. He wants to help make the state laws. In which branch of the Virginia state government does he work? A) Executive branch. B) Legislative branch. C) Judicial branch. D) None of above. Show Answer Correct Answer: B) Legislative branch. 8. How do industrialized nations keep the literacy rate high? A) By offering training in other countries. B) By not sharing economies. C) By offering better education. D) None of the above. Show Answer Correct Answer: C) By offering better education. 9. Which statement about AD is most correct? A) Aggregate demand is the total of all types of spending in Australia represented by C + I + G + X + M. B) C represents private household consumption of, for example, take-away food, shelter, cars, holidays and clothes. C) I represents business spending, which would rise if business confidence fell. D) If AD rose, GDP would fall. Show Answer Correct Answer: B) C represents private household consumption of, for example, take-away food, shelter, cars, holidays and clothes. 10. A country's literacy rate is the percentage of adults who ..... A) Can read & write. B) Material comfort. C) Educated and skilled. D) Pays a higher salary. E) Standard of living. Show Answer Correct Answer: A) Can read & write. 11. The global unemployment rate in 2017 was: A) 5.6 %. B) 7%. C) 10%. D) 6%. Show Answer Correct Answer: A) 5.6 %. 12. How did Lizzie WIlliams Johnson earn her nickname, The Texas Cattle Queen? A) She was very wealthy and hired many workers to take her cattle to the market. B) She was married to the King of the Cows. C) She went with her cattle on the trail drive to the market. D) She ate a lot of hamburgers. Show Answer Correct Answer: C) She went with her cattle on the trail drive to the market. 13. The Japanese economy has to make up for the country's lack of: A) Education. B) Population. C) Natural resources. D) Fish. Show Answer Correct Answer: C) Natural resources. 14. Use the information in the box below to answer this question. In order to produce a good or a service, four factors of production are needed-natural resources (land) human resources (labor)capital resources (buildings and machinery) entrepreneurship (organization). A sixth-grade class decides to open a popcorn stand. The stand and the popcorn popper are examples of which factor of production? A) Natural resources. B) Human resources. C) Capital resources. D) Entrepreneurship. Show Answer Correct Answer: C) Capital resources. 15. A rise in the quality or quantity of factor inputs will lead to long run economic growth A) Yes, I understand this from the notes. B) No, I don't understand this from the notes. C) No, I don't understand this, as I have not read the notes. D) None of above. Show Answer Correct Answer: A) Yes, I understand this from the notes. 16. Which of the following is not a consequence of economic growth? A) Increased standard of living. B) Decreased national income. C) More employment opportunities. D) Technological advancement. Show Answer Correct Answer: B) Decreased national income. 17. What typically happens to the standard of living in a country with low literacy rates? A) The economy is booming. B) The jobs are plentiful. C) People are wealthy. D) There is a low standard of living. Show Answer Correct Answer: D) There is a low standard of living. 18. Achieving a sustainable and inclusive economic growth is one of the government's macro objectives. A) True. B) False. Show Answer Correct Answer: A) True. 19. Which of the following is NOT a difference between Middle Eastern countries with large supplies of oil and those without? A) Countries with a lot of oil tend to have a higher standard of living. B) Countries with a lot of oil tend to have higher per capita incomes. C) Countries with a lot of oil tend to have fewer instances of famine. D) Countries with a lot of oil tend to have fewer environmental issues. Show Answer Correct Answer: D) Countries with a lot of oil tend to have fewer environmental issues. 20. What is the main subtopic of the article? A) The main subtopic of the article is fashion trends. B) The main subtopic of the article is climate change. C) The main subtopic of the article is historical events. D) The main subtopic of the article is cooking recipes. Show Answer Correct Answer: B) The main subtopic of the article is climate change. ← 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