This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 45 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 45 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. It refers to any educational activity which is not structured and takes place outside the formal system. A) Formal Education. B) Informal Education. C) Special Education. D) None of above. Show Answer Correct Answer: B) Informal Education. 2. Which indicator is most relevant to measuring sustainable economic growth? A) Short-term stock market performance. B) GDP per capita growth. C) Carbon footprint reduction. D) Corporate profit margins. Show Answer Correct Answer: C) Carbon footprint reduction. 3. Which of the following represents human resources in the context of economics? A) Money and investments. B) Land and buildings. C) Labor and skills. D) Oil and minerals. Show Answer Correct Answer: C) Labor and skills. 4. Among the following 5 countries, which country has the highest quality of life index? A) Japan. B) People Republic of China. C) United States. D) Sweden. E) Luxembourg. Show Answer Correct Answer: D) Sweden. 5. What is the value that each employed person creates per unit of his or her input? A) Human Capital. B) Labor productivity. C) Physical Capital. D) Technological Change. Show Answer Correct Answer: B) Labor productivity. 6. Discuss two causes of economic barriers. A) Decrease in population growth. B) 1. Lack of access to capital 2. Government regulations and policies. C) Low unemployment rate. D) High demand for goods and services. Show Answer Correct Answer: B) 1. Lack of access to capital 2. Government regulations and policies. 7. Doesn't always provide the basic needs to everyone in a society (the weak, sick, disabled, or elderly). A) Disadvantage of Traditional Economy. B) Disadvantage of Market Economy. Show Answer Correct Answer: B) Disadvantage of Market Economy. 8. The continent of Africa has a lot of natural resources such as diamonds. A) True. B) False. Show Answer Correct Answer: A) True. 9. What will be most likely to decrease a country's national output in the short run but to increase its potential for long-run growth? A) A decrease in the level of import tariffs. B) A decrease in the rate of immigration. C) An increase in female participation in the labour force. D) An increase in the money supply. Show Answer Correct Answer: A) A decrease in the level of import tariffs. 10. Some examples of ..... include factories, machinery, technology, buildings, tools, etc. A) Capital goods. B) Human capital. C) Natural Resources. D) Gross Domestic Goods. Show Answer Correct Answer: A) Capital goods. 11. A high literacy rate helps make standard of living ..... A) Increase. B) Decrease. Show Answer Correct Answer: A) Increase. 12. At which stage of the economic cycle would you most likely expect to see an increase in the number of firms shutting down? A) Boom. B) Recession. C) Recovery. D) Slump. Show Answer Correct Answer: B) Recession. 13. One potential negative consequence of rapid economic growth is ..... ? A) Lower inflation. B) Reduced income inequality. C) Environmental degradation. D) Decreased technological innovation. Show Answer Correct Answer: C) Environmental degradation. 14. Why were most people opposed to trusts and monopolies? A) Limit competitoin=higher prices. B) Too easy to invest. C) Too much competition. D) None of above. Show Answer Correct Answer: A) Limit competitoin=higher prices. 15. Congress reduces the requirements needed to begin receiving unemployment benefits. Will economic growth occur? Which growth factor contributed is the cause? (If none, only select one answer) A) Growth will occur. B) Growth will not occur. C) Technology. D) Human Capital. E) Economic Environment. Show Answer Correct Answer: B) Growth will not occur. 16. How two or more things are connected A) Sector. B) Obsolete. C) GDP per capita. D) Capital. E) Relationship. Show Answer Correct Answer: E) Relationship. 17. What was Warren Harding's economic policy known as? A) Return to Normalcy. B) New Deal. C) Great Society. D) Square Deal. Show Answer Correct Answer: A) Return to Normalcy. 18. Phases of the economic cycle:boom, peak, recession trough and recovery 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. 19. What was one of the main goals of Warren Harding's economic policy? A) Increasing government regulation. B) Reducing taxes. C) Implementing price controls. D) Nationalizing industries. Show Answer Correct Answer: B) Reducing taxes. 20. Discuss the impact of globalization on industrial and economic growth. A) Globalization has led to increased trade, investment, and technological advancements, which have contributed to industrial and economic growth. B) Globalization has led to decreased trade and investment, which have hindered industrial and economic growth. C) Globalization has had no impact on industrial and economic growth. D) Globalization has led to increased trade and investment, but has not contributed to technological advancements or industrial and economic growth. Show Answer Correct Answer: A) Globalization has led to increased trade, investment, and technological advancements, which have contributed to industrial and economic growth. ← 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