This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 22 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 22 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Short run growth is known as actual 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. 2. True or False-Uranium is radioactive? A) True. B) False. Show Answer Correct Answer: A) True. 3. ..... can be measured by an increase in a country's GDP A) Economic Growth. B) Economic Development. Show Answer Correct Answer: A) Economic Growth. 4. Which of the following are likely consequences of economic growth? A) Fall in general price level. B) Rise in unemployment. C) Rise in material standard of living. D) All of the above. E) None of the above. Show Answer Correct Answer: C) Rise in material standard of living. 5. Which of the following is MOST likely to be true in a country with a high literacy rate? A) A low standard of living. B) A high standard of living. C) Little investment in human capital. D) Too much investment in capital resources. Show Answer Correct Answer: B) A high standard of living. 6. True or False:The battle at Little Big Horn was the Sioux's greatest defeat. A) True. B) False. Show Answer Correct Answer: B) False. 7. Net Social Welfare is: A) Quantitative. B) Qualitative. Show Answer Correct Answer: B) Qualitative. 8. Which of the following is a drawback of economic growth? A) Stable inflation. B) Environmental issues like pollution and climate change. C) Increased availability of goods and services. D) None of the above. Show Answer Correct Answer: B) Environmental issues like pollution and climate change. 9. What is the title of the article mentioned in the text? A) The Future of Indonesia's Economy. B) Indonesia's Golden Pathway toward Sustainable Growth. C) The Golden Era of Indonesia. D) Indonesia's Pathway to Success. Show Answer Correct Answer: B) Indonesia's Golden Pathway toward Sustainable Growth. 10. In an economy with a positive output gap A) There is spare capacity. B) Actual output is less than potential output. C) There is cyclical unemployment. D) Demand-pull inflationary pressure exists. Show Answer Correct Answer: D) Demand-pull inflationary pressure exists. 11. Which of the following is least likely to be part of a market-based supply-side approach to economic development? A) Increasing tariffs. B) Encouraging FDI. C) Reducing corporation tax rates. D) Reducing environmental regulations. Show Answer Correct Answer: A) Increasing tariffs. 12. Jonathan is joining the U.S. Navy in September. In which region of Virginia will he most likely be stationed? A) Coastal Plain (Tidewater). B) Valley and Ridge. C) Blue Ridge Mountains. D) Appalachian Plateau. Show Answer Correct Answer: A) Coastal Plain (Tidewater). 13. The programs we watch on television, YouTube, Netflix and Tik Tok are NOT ways we are can gain informal education. A) True. B) False. Show Answer Correct Answer: B) False. 14. An example of a skilled worker is a: A) Labourer. B) Pilot. C) Tractor driver. D) Teacher. Show Answer Correct Answer: D) Teacher. 15. You are watching a speech by the Prime Minister of the United Kingdom on T.V. with your parents. She is explaining a plan for improving the U.K. economy. In the speech, she says: "Our workers must be prepared for the high-tech jobs of the 21st century. My plan will give incentives to companies who provide technology education and training for their employees." The Prime Minister's plan is based on which of the following conclusions? A) An investment in human capital will increase the country's Gross Domestic Product. B) Adjusting the exchange rate will increase the profit the U.K. makes in international trade. C) An investment in capital goods will increase the country's Gross Domestic Product. D) An embargo on technology from other countries will help the U.K. economy. Show Answer Correct Answer: A) An investment in human capital will increase the country's Gross Domestic Product. 16. Investments in human capital, such as ..... and professional training programs are a great way for a country to improve its GDP A) Highly-skilled workforce. B) Standard of living. C) Different kinds. D) Different set of skills. E) Education. Show Answer Correct Answer: E) Education. 17. Without human resources, natural resources cannot be used and developed. A) True. B) False. Show Answer Correct Answer: A) True. 18. A newspaper reported that a country's economy had grown by 3 % during the last year.What must have increased in that year? A) Costs of production. B) Gross domestic product. C) Unemployment. D) Wage levels. Show Answer Correct Answer: B) Gross domestic product. 19. Which level of education are you currently in? A) First. B) Second. C) Third. D) Fourth. Show Answer Correct Answer: C) Third. 20. Uses limited technology. 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: A) Stage 1:Traditional Society. ← 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