This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 35 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 35 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A country with a (a) tends to have a higher standard of living. A) A higher GDP per capita. B) Lower GDP per capita. Show Answer Correct Answer: A) A higher GDP per capita. 2. Entrepreneur A) The total dollar value of all goods and services produced by a country in one year. B) Someone who takes risks to start a new business. C) Someone who makes things. D) The percentage of adults who can read and write. Show Answer Correct Answer: B) Someone who takes risks to start a new business. 3. Which of the following is a key policy tool for inclusive growth? A) Investing in human capital and physical infrastructure. B) Increasing income inequality. C) Reducing access to education. D) Limiting competition and trade. Show Answer Correct Answer: A) Investing in human capital and physical infrastructure. 4. Governments spend ..... revenue on services such as education. A) Tax. B) Sales. C) Capital. D) Import. Show Answer Correct Answer: A) Tax. 5. Overall, starting a new business in Israel and Saudi Arabia is (easier/harder) than the world average. A) Easier. B) Harder. Show Answer Correct Answer: A) Easier. 6. What can happen to unemployment when the economy slows down? A) It rises because the demand for labor goes down. B) It falls because the demand for labor goes up. C) It rises because the cost of labor goes up. D) It rises because production speeds up. Show Answer Correct Answer: A) It rises because the demand for labor goes down. 7. Things that are made or grown and then sold. A) Goods. B) Productive. C) Service. D) None of above. Show Answer Correct Answer: A) Goods. 8. Most countries measure economic growth each quarter A) Fortnight. B) Quarter. C) Year. D) None of the above. Show Answer Correct Answer: B) Quarter. 9. The performance of a duty or work for another person. A) Import. B) Service. C) Goods. D) None of above. Show Answer Correct Answer: B) Service. 10. Inflationary gaps often lead to: A) Price stability. B) Decreased cost of living. C) Higher inflation rates. D) Increased saving rates. Show Answer Correct Answer: C) Higher inflation rates. 11. What is a key policy tool for inclusive growth? A) Monetary policy. B) Trade policy. C) Education policy. D) Fiscal policy. Show Answer Correct Answer: D) Fiscal policy. 12. What can we do to increase economic growth in our community? A) Decrease investment in capital goods. B) Invest in human capital. C) Ignore entrepreneurship. D) Avoid natural resources. Show Answer Correct Answer: B) Invest in human capital. 13. What does productive capacity measure? A) Measures an economies potential rather than looking at what they actually produce. B) Measures an economies actual ability to produce goods and services. C) Measure an economy's potential. D) None of above. Show Answer Correct Answer: A) Measures an economies potential rather than looking at what they actually produce. 14. What is Not an example of a Natural Resource? A) Land. B) Computer. C) Water. D) Sun. Show Answer Correct Answer: B) Computer. 15. Which country has invested capital goods in the automotive industry? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: B) Germany. 16. What is the role of natural resources in economic growth? A) Decreases economic growth. B) No impact on economic growth. C) Fluctuates economic growth. D) Increases economic growth. Show Answer Correct Answer: D) Increases economic growth. 17. Increases in long-run growth are caused by an increase in aggregate supply 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. 18. A material on or in the earth that has economic value. A) Human Capital. B) Capital Goods. C) Public sector. D) Natural resource. Show Answer Correct Answer: D) Natural resource. 19. "Gifts of Nature" A) Natural Resources. B) Capital Goods. C) Physical Goods. D) Human Capital. Show Answer Correct Answer: A) Natural Resources. 20. Which one is NOT a factor when determining the HDI of a country? A) Education. B) Health. C) Income. D) Miltary Size. Show Answer Correct Answer: D) Miltary Size. ← 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