This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 51 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 51 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What can a bank provide for an Entrepreneur. A) Oil. B) Gold. C) Diamonds. D) Loan. Show Answer Correct Answer: D) Loan. 2. Human beings can solve problems that machines cannot. A) True. B) False. Show Answer Correct Answer: A) True. 3. Short run aggregate supply increases also create short run economic growth. For example, a fall in the price of oil reduces production costs 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. 4. A country investing in new machinery A) Human Capital. B) Capital Good. Show Answer Correct Answer: B) Capital Good. 5. Which of the following is not a leakage from the circular flow of income? A) Savings. B) Investment. C) Taxes. D) Imports. Show Answer Correct Answer: B) Investment. 6. Often referred to as Physical Capital, what best includes the plant and equipment that firms use as well as things like roads? A) Capital Deepening. B) Human Output. C) Infrastructure. D) Technology. Show Answer Correct Answer: C) Infrastructure. 7. Which group of countries was expected to experience strong economic growth along with the BRIC countries? A) BRIC-MIT. B) N11. C) G7. D) OPEC. Show Answer Correct Answer: B) N11. 8. What are the key indicators of industrial and economic growth in a country? A) Stock market performance, consumer spending, and government debt. B) Agricultural production, population growth, and education levels. C) GDP growth, industrial production, employment rates, and investment levels. D) Unemployment rates, inflation, and trade deficit. Show Answer Correct Answer: C) GDP growth, industrial production, employment rates, and investment levels. 9. A business method that focuses on buying businesses involved in every step of the production process for a final product. A) Horizontal Integration. B) Philanthropy. C) Vertical Integration. D) None of above. Show Answer Correct Answer: C) Vertical Integration. 10. What are the three economic questions? A) What to produce? How to produce? For whom to produce?. B) Who to produce? Why you produce? Like to produce?. C) Why to produce? Tell who to produce? Things to produce?. D) None of above. Show Answer Correct Answer: A) What to produce? How to produce? For whom to produce?. 11. Which country in Africa produces the most oil? A) Kenya. B) South Africa. C) Nigeria. D) Ghana. Show Answer Correct Answer: C) Nigeria. 12. What is primarily responsible for shifting the economy's PPC to the right? A) Decrease in resources. B) Economic decline. C) Economic growth. D) Stagnation in technology. Show Answer Correct Answer: C) Economic growth. 13. Economic Growth and Economic Development are the same thing A) Not always. B) Never. C) Sometimes. D) Always. Show Answer Correct Answer: B) Never. 14. What is the term for the ability to capture some share of the social value of an innovation? A) Appropriability. B) Excludability. C) Rivalry. D) Invention. E) Excitability. Show Answer Correct Answer: A) Appropriability. 15. What is the importance of early childhood development in promoting inclusive growth? A) Early childhood development has no impact on inclusive growth. B) Inclusive growth can be achieved without early childhood development. C) Early childhood development only affects physical development, not cognitive or socio-emotional development. D) Early childhood development is important in promoting inclusive growth because it lays the foundation for a child's physical, cognitive, and socio-emotional development. Show Answer Correct Answer: D) Early childhood development is important in promoting inclusive growth because it lays the foundation for a child's physical, cognitive, and socio-emotional development. 16. When workers have the best tools, they can: A) Be more productive. B) Help the countyr's economy. C) Both. D) None of above. Show Answer Correct Answer: C) Both. 17. In Country A, the government has offered incentives to companies that invest in continuing education and training for their employees. What factor of economic growth is the country working to improve? A) Capital goods. B) Human capital. C) Natural resources. D) Entrepreneurship. Show Answer Correct Answer: B) Human capital. 18. Measures how well off a people are in a country. A) Literacy Rate. B) Physical capital. C) Standard of Living. D) Gross Domestic Capital. Show Answer Correct Answer: C) Standard of Living. 19. What is another name for oil? A) Black Gold. B) California Coffee. C) Petroleum Power. D) Texas Toast. Show Answer Correct Answer: A) Black Gold. 20. Implies an increase in the capacity of the economy to produce more goods and services. A) Economic development. B) Economic activity. C) Economic prosperity. D) Economic growth. Show Answer Correct Answer: D) 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