This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 50 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 50 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which one of these is a consequence of a recession? A) Increase in inflation. B) Increase in employment. C) Decrease in income. D) Increase in Aggregate Supply. Show Answer Correct Answer: C) Decrease in income. 2. What are some of the policies that governments can implement to promote economic growth? A) Cutting funding for education and infrastructure. B) Reducing taxes, investing in infrastructure, promoting innovation, and providing education and training. C) Increasing taxes and regulations. D) Limiting access to innovation and technology. Show Answer Correct Answer: B) Reducing taxes, investing in infrastructure, promoting innovation, and providing education and training. 3. A person who takes the risk and starts up a company is known as a ..... A) Human capitalist. B) Capital goods. C) Entrepreneur. D) Natural resource. Show Answer Correct Answer: C) Entrepreneur. 4. What Native American food source was devastated by settlers over population and over hunting them? A) Fish. B) Buffalo. C) Deer. D) Hogs. Show Answer Correct Answer: B) Buffalo. 5. According to the normal relationship, if Nation "X" decided to invest several billion dollars in education and training, which statement below best explains how its GDP would likely be affected? A) It would depend on other factors. B) It would not change. C) It would decrease. D) A It would increase. Show Answer Correct Answer: D) A It would increase. 6. Andrew goes to college to learn dentistry. A) Capital Goods. B) Entrepreneur. C) Human Capital. D) Natural Resources. Show Answer Correct Answer: C) Human Capital. 7. More income generating in the country is an aspect of Economic ..... A) Growth. B) Development. Show Answer Correct Answer: A) Growth. 8. A country can increase it's capital goods by investing in what? A) New machinery, technology, factories, etc. B) Land, forests, minerals, etc. C) Doctors, teachers, nurses, etc. D) Clothes, shoes, makeup, etc. Show Answer Correct Answer: A) New machinery, technology, factories, etc. 9. What are the main factors that can affect economic growth? A) Factors such as fashion trends, social media, and fast food. B) Factors such as weather, sports, and entertainment. C) Factors such as investment, technological progress, education, natural resources, and government policies can affect economic growth. D) Factors such as music, art, and literature. Show Answer Correct Answer: C) Factors such as investment, technological progress, education, natural resources, and government policies can affect economic growth. 10. Which of the following is NOT a macroeconomic objective? A) Economic Growth. B) Stable Employment. C) Stable Inflation. D) Stable Balance of Payments. Show Answer Correct Answer: B) Stable Employment. 11. Who were the "Bosses of the Senate" that are being referred to in this cartoon? A) Members of the Supreme Court. B) Voters. C) Wealthy industrialists. D) Elected congressmen. Show Answer Correct Answer: C) Wealthy industrialists. 12. According to the article, what measures can develop countries take to prepare for an aging population? (Select ALL that apply.) A) Reform pension system and raise retirement age. B) Increase female participation in the labour force. C) Nurture financial markets and provide long-term saving options. D) All of the above. Show Answer Correct Answer: D) All of the above. 13. Economic growth is defined as? A) The decrease in productive capacity of an economy. B) The increase of the prices of good within an economy. C) The inverse relationship between money and productive capacity. D) The increase in productive capacity of an economy. Show Answer Correct Answer: D) The increase in productive capacity of an economy. 14. Based on your knowledge of African economies, which countries correctly complete the table? A) . B) . C) . D) . Show Answer Correct Answer: A) . 15. The percent of a nation's population over the age of 15 who are able to read and write. A) Literate. B) Standard of living. C) Entrepreneur. D) Literacy rate. Show Answer Correct Answer: D) Literacy rate. 16. A government could help create economic growth by doing the following: A) Decreasing the money supply. B) Decreasing interest rates. C) Decreasing government spending. D) Increasing tax rates. Show Answer Correct Answer: B) Decreasing interest rates. 17. The act of assuming the risk of organizing productive resources to produce goods and services. A) Business. B) Critical thinking. C) Entrepreneurship. D) Risk management. Show Answer Correct Answer: C) Entrepreneurship. 18. The following list is describing which factor of production:education, health, and showing up ready to work? A) Entrepreneur. B) Human capital. C) Natural resources. D) Capital goods. Show Answer Correct Answer: B) Human capital. 19. Prohibiting the export of NICKEL mining materials is one of the efforts of President Jokowi's government to A) Stop all efforts to export raw materials. B) Improving community welfare and encouraging economic development. C) Maintaining Indonesia's position as the largest nickel producer. D) Strengthening the Indonesian economy in the oil and gas sector. Show Answer Correct Answer: A) Stop all efforts to export raw materials. 20. All of the economic inputs that are required to produce goods and services are called: A) Factors of production. B) Supply. C) Demand. D) Capital goods. Show Answer Correct Answer: A) Factors of production. ← 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