This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 36 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 36 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What type of transportation in Virginia helped cities grow? A) Streetcars. B) Railroads. C) Roads. D) All of the above. Show Answer Correct Answer: D) All of the above. 2. Literacy is the ability to A) Do math. B) Follow directions. C) Read and write. D) None of above. Show Answer Correct Answer: C) Read and write. 3. The total value of goods and services produced in a country in a year is called the ..... A) XYZ. B) GDP. C) PGA. D) ZXY. Show Answer Correct Answer: B) GDP. 4. Division of labour reduces productivity A) True. B) False. Show Answer Correct Answer: B) False. 5. Which of the following about strategy of unbalanced growth is right A) Deliberate imbalance in favor of some sectors. B) Simultaneous investment in all sectors. C) Both. D) None. Show Answer Correct Answer: A) Deliberate imbalance in favor of some sectors. 6. What is one reason why innovation can have high returns? A) Non-rivalry of ideas. B) Competition among inventors. C) Lack of funding. D) Lack of interest. E) Artificial Intelligence. Show Answer Correct Answer: A) Non-rivalry of ideas. 7. Civil War 2.Mexican-American War3. Reconstruction 4.Texas Annexation Which of the following is the correct chronological order? A) 1, 4, 3, 2. B) 4, 2, 1, 3. C) 2, 4, 1, 3. D) 1, 3, 2, 4. Show Answer Correct Answer: B) 4, 2, 1, 3. 8. The PPC (Production Possibility Curve) moves inward during a ..... ? A) Boom. B) Recession. C) Stable Economy. D) Expansion. Show Answer Correct Answer: B) Recession. 9. What is the purpose of the European Union? A) To maintain the largest standing army in the world as a deterrent. B) To enforce global peace treaties through military intervention. C) To create a single, federal state covering the European continent. D) To promote peace, security, and justice through cooperation. Show Answer Correct Answer: D) To promote peace, security, and justice through cooperation. 10. Sustainable economic growth depends upon A) Investment, not saving. B) Saving, not investment. C) Both saving and investment. D) Neither saving nor investment. Show Answer Correct Answer: C) Both saving and investment. 11. The use of resources and money with aparticular country A) Exports. B) Imports. C) Gross domestic product. D) Natural resources. E) Economy. Show Answer Correct Answer: E) Economy. 12. Human capital is all the skills, talents, education, and abilities that human workers possess. A) False. B) True tagsS2789894. Show Answer Correct Answer: B) True tagsS2789894. 13. Which one IS NOT an example of human capital? A) Skills. B) Voice. C) Education. D) Training. Show Answer Correct Answer: B) Voice. 14. How does a rise in interest rates contribute to a recession? A) It boosts consumer confidence. B) It reduces borrowing costs. C) It increases the cost of borrowing and reduces demand. D) It leads to expansionary fiscal policies. Show Answer Correct Answer: C) It increases the cost of borrowing and reduces demand. 15. The business cycle describes the fact that A) Unemployment levels are constantly changing. B) An economy's level of output fluctuates between times of recession and expansion. C) Inflation rates are constantly changing. D) Politicians usually pass laws that cause the economy to react in unpredictable ways. Show Answer Correct Answer: B) An economy's level of output fluctuates between times of recession and expansion. 16. Which of the following explains the term economic growth A) Increase in per capita production. B) Increase in per capita real income. C) Structural change in the economy. D) All of the above. Show Answer Correct Answer: D) All of the above. 17. If a mass immigration occurs, the production possibilities curve can shift A) No shift. B) To the left. C) To the right. D) Outward on one axis only. Show Answer Correct Answer: C) To the right. 18. When a point lies inside of the PPC it can be said that A) Resources are under employed. B) Resources are fully utilize. C) Production is beyond the resource potential. D) Opportunity cost of production is constant. Show Answer Correct Answer: A) Resources are under employed. 19. 35 year old project manager who was let go because his employer went bankrupt. He's applied for several similar jobs but hasn't heard back as of yet. A) Employed. B) Unemployed. C) Not in the Labor Force. D) Not Applicable / Not Counted. Show Answer Correct Answer: B) Unemployed. 20. What is the primary purpose of calculating GDP per capita? A) To measure inflation. B) To determine potential economic growth. C) To assess the average output per person in an economy. D) To estimate government spending. Show Answer Correct Answer: C) To assess the average output per person in an economy. ← 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