This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 28 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 28 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Main/critical/fundamental issue A) Clear evidence. B) Economic recovery. C) A great deal of. D) Key question. Show Answer Correct Answer: D) Key question. 2. A, B, C, D? A) A. B) B. C) C. D) D. Show Answer Correct Answer: D) D. 3. Fiscal policy addressing an inflationary gap might involve: A) Increasing government expenditure. B) Cutting welfare programs. C) Raising taxes. D) Encouraging private investments. Show Answer Correct Answer: C) Raising taxes. 4. Which of the following contributed MOST to the decrease in Buffalo in the West? A) Rising demand for buffalo robes in cities back east. B) Poor soil quality in the buffalo-rich region of Oklahoma. C) The relocation of the Arapaho and Lakota tribes to South Dakota. D) A series of broken treaties between the United States and Plains Indians. Show Answer Correct Answer: A) Rising demand for buffalo robes in cities back east. 5. Excluding the agricultural sector, ..... percent of all workers fell into this employment category. A) 56%. B) 51. C) A lot. D) 77!. Show Answer Correct Answer: B) 51. 6. If a country is experiencing a recession, which of these might be observed? A) PPC shifting outward. B) Decrease in unemployment. C) Decrease in total demand. D) Increase in investment. Show Answer Correct Answer: C) Decrease in total demand. 7. True or False:Irish and Chinese immigrants mainly built the Transcontinental RR. A) True. B) False. Show Answer Correct Answer: A) True. 8. Which country specializes in fishing? A) United Kingdom. B) Russia. C) Germany. D) None of above. Show Answer Correct Answer: A) United Kingdom. 9. Which area in Mumbai is home to over 5000 small-scale businesses and factories? A) Dharavi. B) Mumbai's container port. C) Mumbai's waterfront. D) Mumbai's rural urban fringe. Show Answer Correct Answer: A) Dharavi. 10. ..... was a muckraker that exposed the corruption of politicians like "Boss" Tweed. A) Sinclair. B) Wells. C) Tarbell. D) Nast. Show Answer Correct Answer: D) Nast. 11. Skills, education, and experience of workers-labor, cook, librarian, teachers, coach A) Natural resources. B) Capital goods. C) Human capital. D) Entrepreneurship. Show Answer Correct Answer: C) Human capital. 12. What is a country investing in if they spend money on solar energy to power government offices? A) People/human capital. B) Natural resources. C) Infrastructure/capital. D) Entrepreneurship. Show Answer Correct Answer: C) Infrastructure/capital. 13. Just doubling the amount of L under constant returns to scale: A) We double the production of the product of intensity L. B) We more than double the production of the product of intensity L. C) We double the output of the product of intensity K. D) We leave the output of the intensity product K unchanged. Show Answer Correct Answer: B) We more than double the production of the product of intensity L. 14. Which of the following can BEST be inferred from this map? A) The Northern Pacific Railroad helped establish many prosperous cities. B) Denver and Kansas City benefited from the growing railroad system of the United States. C) The Southern Pacific Railroad contributed to the growth of cities including San Francisco and Los Angeles. D) The connection of the Central Pacific and Union Pacific Railroads led to the development of a major city. Show Answer Correct Answer: C) The Southern Pacific Railroad contributed to the growth of cities including San Francisco and Los Angeles. 15. When economists look at inflation, the focus is on the ..... A) Changes in the price of a certain good. B) Changes in the prices of all goods. C) Changes in the prices of all services. D) Changes in the prices of all goods and services. Show Answer Correct Answer: D) Changes in the prices of all goods and services. 16. Which one IS NOT a natural resource? A) Cars. B) Oil. C) Lumber. D) Gold and silver. Show Answer Correct Answer: A) Cars. 17. The activity of creating a new business A) Entrepreneurship. B) Chief executive officer. C) Secretary of the tresury. D) The boss. Show Answer Correct Answer: A) Entrepreneurship. 18. What is the definition of GDP? A) The total market value of all final goods and services provided within an economy. B) The total output of a country at a given time period. C) The total market value of all intermediate goods and services provided within an economy by its factors of production in a given period of time. D) The total output of a country over a period of 10 years. Show Answer Correct Answer: B) The total output of a country at a given time period. 19. At which stage of the economic cycle would you expect to see demand for goods and services begin to rise again? A) Boom. B) Slump. C) Recovery. D) Recession. Show Answer Correct Answer: C) Recovery. 20. Which is not a determining factor for economic growth? Which option does not contribute to economic growth? A) Land and other natural resourcesLand and other natural resources. B) The quality and quantity of population and labors. C) Export goodsExport goods. D) Technological developmentTechnological development. Show Answer Correct Answer: C) Export goodsExport goods. ← 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