Economic Growth Quiz 37 (20 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Which of the following was a REQUIREMENT to be eligible to participate in the Homestead Act?

Correct Answer: A) Head of a household.

2. How can maintaining a high literacy rate positively affect a nation's standard of living?

Correct Answer: B) Literate people are better able to secure skilled jobs.

3. One advantage of rapid economic growth is

Correct Answer: D) Increased tax revenues for Government spending.

4. What does the HDI measure?

Correct Answer: B) Living standards in terms of health, education, life expectancy.

5. Which one is a constraints to economic growth in South Africa?

Correct Answer: D) Lack of Managerial skills.

6. Which is not an example of education?

Correct Answer: C) A person reading a newspaper.

7. Increases in real GDP always result in increases in living standards

Correct Answer: B) False.

8. What country in Europe has a high literacy late, but a low standard of living?

Correct Answer: D) Russia.

9. What happens to a country's Standard of Living when the GDP increases?

Correct Answer: B) The Standard of Living Rises.

10. A scientist who studies the earth's structure is called a

Correct Answer: D) Geologist.

11. True or False:Usually the higher a countries Literacy Rate the higher their Standard of Living.

Correct Answer: A) True.

12. What is the advantage of having a bulge in a country's working-age population?

Correct Answer: A) Higher economic growth.

13. Why is real GDP a poor indicator of economic growth?

Correct Answer: B) Real GDP is a monetary measure that does not take other factors into account.

14. Which economic term BEST describes sending goods to another country and getting goods from another country?

Correct Answer: A) Exporting and importing.

15. In which sector does Russia invest?

Correct Answer: C) Energy.

16. Economists ..... of a country's economy by its gross domestic product (GDP)

Correct Answer: A) Measure the health.

17. Machinery is an example of

Correct Answer: C) Physical capital.

18. What is the correct correlation (relationship) between entrepreneurs and GDP?

Correct Answer: A) The more entrepreneurs a country has the higher the GDP.

19. What is the impact of oil production on the economy of Middle Eastern countries?

Correct Answer: C) It increases the economy.

20. The Knights of Labor disagreed with the violent actions of the anarchists during what event?

Correct Answer: A) The Haymarket Riot.