This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 49 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 49 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Why did settlers of the Backcountry feel the government was treating them unfairly? A) They were being taxed three times more than the people of the Lowcountry. B) They had less representation in the Assembly than the Lowcountry even though they had a larger population. C) Their farms were being destroyed and burned by representatives of the assembly. D) They were forbidden from traveling. Show Answer Correct Answer: B) They had less representation in the Assembly than the Lowcountry even though they had a larger population. 2. Begins to participate in international trade, such as the exporting of agriculture and raw materials. A) Stage 1:Traditional Society. B) Stage 2:Pre-Condition for Take-Off. C) Stage 3:Take-Off. D) Stage 4:Drive to Maturity. E) Stage 5:High Mass Consumption. Show Answer Correct Answer: B) Stage 2:Pre-Condition for Take-Off. 3. What was the impact of increased production efficiencies on consumer demand? A) Decreased consumer demand. B) Had no effect on consumer demand. C) Increased consumer demand. D) Shifted consumer demand to foreign markets. Show Answer Correct Answer: C) Increased consumer demand. 4. Actual economic growth can be represented by: A) Outward shift of PPF. B) Inward shift of PPF. C) Movement of a point inside towards a point on PPF. D) Movement of a point on PPF towards a point inside. Show Answer Correct Answer: C) Movement of a point inside towards a point on PPF. 5. Which of following statement is true about the Economic Growth A) It refers to increase in Gross Domestic Product (GDP). B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). C) It is characterized by fall in unemployment rate. D) Rise in GDP on monetary term. Show Answer Correct Answer: B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). 6. Research / observation / investigation means ..... A) Study. B) Evidence. C) Accompany. D) Security. Show Answer Correct Answer: A) Study. 7. What is the best way to measure economic growth? A) Gross national product. B) Inflation. C) Monetary policy. D) Gross Domestic Product. Show Answer Correct Answer: D) Gross Domestic Product. 8. Cold War is when Russia and United States help one another because they were both powerful countries. A) True. B) False. Show Answer Correct Answer: B) False. 9. Potential economic growth is caused by an increase in consumption and net exports. A) True. B) False. Show Answer Correct Answer: B) False. 10. Which one is the correct formula to calculate labor force participation rate? A) (Labor Force / Total Population) x 100. B) (Employed Population / Labor Force) x 100. C) (Unemployment Rate / Labor Force) x 100. D) (Labor Force / Working Age Population) x 100. Show Answer Correct Answer: D) (Labor Force / Working Age Population) x 100. 11. Which of the following represents the term for "a product of the earth that people use to meet their needs" A) Capital goods. B) Natural resource. C) Human capital. D) Entrepreneurship. Show Answer Correct Answer: B) Natural resource. 12. What is China's current unemployment rate? A) 3.5%. B) 4.9%. C) 5.4%. D) 2.1%. Show Answer Correct Answer: C) 5.4%. 13. A decrease in total demand can result in ..... ? A) Movement from outside the PPC to inside. B) Movement from inside the PPC to the right. C) Movement from the right of PPC to the left. D) No movement on the PPC. Show Answer Correct Answer: A) Movement from outside the PPC to inside. 14. Which of the following factors has contributed the MOST to raising average labor productivity historically? A) Human capital. B) Physical capital. C) The political environment. D) Technology. E) Social capital. Show Answer Correct Answer: D) Technology. 15. What was a popular method of stock market investment in the 1920s? A) Index funds. B) Real estate investment. C) Short selling. D) Buying on margin. Show Answer Correct Answer: D) Buying on margin. 16. What is the core-periphery model a part of? A) Rostow's stages of economic growth model. B) World system theory. C) Walt W. Rostow's research. D) None of the above. Show Answer Correct Answer: B) World system theory. 17. What does the income approach of measuring GDP include? A) Employee compensation, business profits, interest, appreciation, net indirect taxes. B) Employee compensation, business profits, interest, depreciation, net direct taxes. C) Employee compensation, business profits, interest, depreciation, net indirect taxes. D) Employee compensation, business losses, interest, depreciation, net indirect taxes. Show Answer Correct Answer: C) Employee compensation, business profits, interest, depreciation, net indirect taxes. 18. When economists talk about economic growth, the focus is on the A) Changes in general price level in the economy. B) Changes in rate of unemployment in the economy. C) Changes in level of output of goods and services in the economy. D) Changes in imports and exports of goods and services between economies. Show Answer Correct Answer: C) Changes in level of output of goods and services in the economy. 19. What is the target for economic growth A) 2% + or-1%. B) As close to 2% as possible. C) As close to 2.5% as possible. D) As close to 1.5% as possible. Show Answer Correct Answer: C) As close to 2.5% as possible. 20. Level 3A. Entrepreneurial heart frame allows the entrepreneur to see things in a very positive and optimistic light amid a crisis.B. Entrepreneurial gut game is the total involvement of the entrepreneur in the exciting game of business, demanding the keenest of intuitive abilities and the strongest intestinal fortitude. A) A is correct while B is incorrect. B) A is incorrect while B is correct. C) Both are correct. D) Both are incorrect. Show Answer Correct Answer: B) A is incorrect while B is correct. ← 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