This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 46 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 46 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Philippine Development Plan aims towards the goals of improving Filipino lives by improving all of these dimensions EXCEPT: A) Strongly-bonded relationships. B) Comfortable lifestyle. C) Secure future. D) All of the above are included. Show Answer Correct Answer: D) All of the above are included. 2. How can we fix the problem? A) Giving money to the people. B) Investing in companies. C) Investing in education. D) Giving jobs to people. Show Answer Correct Answer: C) Investing in education. 3. A high GDP per capita necessarily indicates ..... ? A) An equal distribution of income. B) A high standard of living. C) A large population size. D) High national debt. Show Answer Correct Answer: B) A high standard of living. 4. To increase literacy rate, a country MUST invest in A) Capital Goods. B) Productive Resources. C) Human Capital. D) Physical Capital. Show Answer Correct Answer: C) Human Capital. 5. About 1/2 half of the world's diamonds are found here: A) Middle East. B) USA. C) Europe. D) Africa. Show Answer Correct Answer: D) Africa. 6. Which country is likely to become aged by 2028 with an average income a third lower than Thailand's? A) Japan. B) South Korea. C) Thailand. D) Sri Lanka. Show Answer Correct Answer: D) Sri Lanka. 7. Jack buys a tractor for his farm A) Capital Goods. B) Entrepreneur. C) Human Capital. D) Natural Resources. Show Answer Correct Answer: A) Capital Goods. 8. What are the two characteristics of Entrepreneurship? A) InnovativeTake Risk. B) ScaredAlone. C) HappyCheerful. D) Brave Noble. Show Answer Correct Answer: A) InnovativeTake Risk. 9. Which region of Europe has countries with higher GDP per capita? A) Eastern Europe. B) Western Europe. C) Southern Europe. D) Northern Europe. Show Answer Correct Answer: B) Western Europe. 10. Full employment means everyone is employed and there is zero unemployment. A) True. B) False. Show Answer Correct Answer: B) False. 11. What best refers to the area of a country, usually with access to a port where, among other benefits, the government does not tax trade? A) Fair Trade Zone. B) North American Free Trade Agreement. C) Special Economic Zone. D) World Trade Organization. Show Answer Correct Answer: C) Special Economic Zone. 12. Which of the following is NOT a positive impact on society of economic growth? A) Improved public services. B) Improved living standards. C) Increased prices (inflation). D) Increased employment. Show Answer Correct Answer: C) Increased prices (inflation). 13. When it was originally settled, South Carolina was a "Proprietary Colony." What did this mean? A) The colony was owned and ruled by a group of Lords Proprietors. B) Only citizens from a "proper" family were allowed to join the new settlements. C) The colony was the top priority of England. D) Settlers received a certain amount of property upon arriving to the new area. Show Answer Correct Answer: A) The colony was owned and ruled by a group of Lords Proprietors. 14. Investment in education and job training are investments in ..... A) Natural resources. B) Capital goods. C) Human capital. D) None of above. Show Answer Correct Answer: C) Human capital. 15. An economy where economic decisions are made by individuals, and individuals and businesses own most of the businesses and farms A) Mixed Economy. B) Market Economy. C) Traditional Economy. D) Command Economy. Show Answer Correct Answer: B) Market Economy. 16. How does investment in infrastructure contribute to economic growth? A) Investment in infrastructure contributes to economic growth by creating jobs, improving productivity, and attracting private investment. B) Investment in infrastructure has no impact on economic growth. C) Investment in infrastructure leads to higher taxes and reduces economic growth. D) Investment in infrastructure only benefits a few individuals and does not contribute to overall economic growth. Show Answer Correct Answer: A) Investment in infrastructure contributes to economic growth by creating jobs, improving productivity, and attracting private investment. 17. What is a positive output gap? A) When the actual level of output is greater than the potential level of output. B) When the actual level of output is less than the potential level of output. C) When the actual level of output is greater than the previous year's output. D) When the actual level of output is equal to the potential level of output. Show Answer Correct Answer: A) When the actual level of output is greater than the potential level of output. 18. Nominal GDP is when A) GDP has been not adjusted to the effects of inflation. B) GDP has been adjusted to the effects of inflation. Show Answer Correct Answer: A) GDP has been not adjusted to the effects of inflation. 19. How can economic growth be measured? A) Consumer price index, stock market index, exchange rate. B) Inflation rate, unemployment rate, interest rate. C) Population growth rate, poverty rate, income inequality. D) GDP, GNP, Real GDP growth rate. Show Answer Correct Answer: D) GDP, GNP, Real GDP growth rate. 20. Teddy Roosevelt was a ..... because he believed in helping the common man by preserving nature, busting trusts, supporting unions, etc. A) Republican. B) Democratic. C) Progressive. D) None of above. Show Answer Correct Answer: C) Progressive. ← 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