This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 25 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 25 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. This reflects material living standards A) G.D.P. B) G.D.P. per product. C) G.D.P. per capita. D) Real G.D.P. Show Answer Correct Answer: C) G.D.P. per capita. 2. What is one way to measure average labor productivity A) Output per employed worker. B) The output of the best workers. C) The output of the median worker. D) Calories in vs calories out, you can't explain that mr lowe. Show Answer Correct Answer: A) Output per employed worker. 3. It shows trends of how a nation's growth rates change over time. A) Population. B) Demographic cycle. C) Economic growth. D) Business cycle. Show Answer Correct Answer: B) Demographic cycle. 4. Which one was the topic? A) Decent Work and Economic Growth. B) Sustainable Development Goals. C) Zero Hunger. D) English. Show Answer Correct Answer: A) Decent Work and Economic Growth. 5. Which country is considered an important station for trading ships? A) China. B) UAE. C) Singapore. D) Saudi Arabia. Show Answer Correct Answer: C) Singapore. 6. What are natural resources (water, oil, metals, minerals, plants, climate, etc.) produced by? A) Animals. B) Machines. C) Humans. D) Nature. Show Answer Correct Answer: D) Nature. 7. Continuous improvements in advanced energy, transportation, and communication systems. 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: D) Stage 4:Drive to Maturity. 8. What are the characteristics of a boom in the business cycle? A) Negative economic growth. B) Low inflation rates. C) Near full capacity or positive output gaps. D) Demand-deficient unemployment. Show Answer Correct Answer: C) Near full capacity or positive output gaps. 9. The UAE produced its own ..... for cars. A) Gasoline. B) Electricity. C) Money. D) None of above. Show Answer Correct Answer: A) Gasoline. 10. Oil is an important resource found in which country? A) Israel. B) Saudi Arabia. C) Turkey. D) None of above. Show Answer Correct Answer: B) Saudi Arabia. 11. Which of the following is the benefit of economic growth? A) Higher income and decreased living standards. B) Higher income and improved living standards. C) Stagnant income and unchanged living standards. D) Decreased income and worsened living standards. Show Answer Correct Answer: B) Higher income and improved living standards. 12. According to Rostow's stages of economic growth model, what is the first stage of development? A) Preconditions for Takeoff. B) Traditional Society. C) Takeoff. D) Drive to Maturity. Show Answer Correct Answer: B) Traditional Society. 13. An increase in the rate of economic growth requires an increase in the ..... of the factors of production. A) Mobility. B) Net investment. C) Per head. D) Non replaceable. E) Leisure. Show Answer Correct Answer: A) Mobility. 14. Oliverland has a $ 1000 GDP and their workers put in 250 hours of labor. Theaville has a $ 2000 GDP and their workers put in 400 hours of labor. Who is more productive? A) Oliverland. B) Theaville. C) Both. D) None of above. Show Answer Correct Answer: B) Theaville. 15. Explain how technological advancements can impact economic growth. A) Technological advancements can impact economic growth by increasing productivity, reducing costs, creating new industries, and improving overall efficiency. B) Technological advancements can lead to economic decline. C) Technological advancements can only impact economic growth in developed countries. D) Technological advancements have no impact on economic growth. Show Answer Correct Answer: A) Technological advancements can impact economic growth by increasing productivity, reducing costs, creating new industries, and improving overall efficiency. 16. In the late 1800s, the Populist movement arose out of the concerns of A) The wealthy. B) The middle class. C) Farm workers. D) Factory owners. Show Answer Correct Answer: C) Farm workers. 17. ..... was a leader in the RR and shipping industries. A) Rockefeller. B) Walker. C) Carnegie. D) Morgan. E) Vanderbilt. Show Answer Correct Answer: E) Vanderbilt. 18. According to Lewis's model, the dual economy grows only when A) The modern sector increases its output share relative to the traditional sector. B) Agricultural sector uses modern equipment. C) Agricultural sector hires labor economically. D) Modern manufacturing sector is labor-intensive. Show Answer Correct Answer: D) Modern manufacturing sector is labor-intensive. 19. If exports from New Zealand increased, what would most likely happen to real gross domestic product and price level? Real GDP / Price Level A) Decrease/decrease. B) Increase/increase. C) Decrease/increase. D) Increase/no chanve. Show Answer Correct Answer: B) Increase/increase. 20. Inflation leads to people's real incomes falling money incomes do not rise. A) True. B) False. Show Answer Correct Answer: A) True. ← 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