This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 54 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 54 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Forcing native children to attend boarding schools were an attempt to stamp out their ..... A) History. B) Youth. C) Farming skills. D) Culture. Show Answer Correct Answer: D) Culture. 2. Which Best describes income? A) Money borrowed from a credit union. B) Credit offered on the basis of a person's salary. C) Money you earn working or get from investing. D) Taxes paid to the government based on annual salary. Show Answer Correct Answer: C) Money you earn working or get from investing. 3. A government could improve ..... and training as part of supply-side policies. A) Health. B) Education. C) Police. D) Army. Show Answer Correct Answer: B) Education. 4. Small portion of ownership in a company purchased by an investor. A) Stock. B) Dividend. C) Capital. D) None of above. Show Answer Correct Answer: A) Stock. 5. Syria has not built new factories or used new technology in many years. What is the country NOT investing in? A) Capital Goods. B) Human capital. C) Natural resources. D) Entrepreneurship. Show Answer Correct Answer: A) Capital Goods. 6. What do you call a person who takes risks by starting a new business? A) An international trader. B) An economist. C) An entrepreneur. D) A dictator. Show Answer Correct Answer: C) An entrepreneur. 7. True or False? Entrepreneurs create jobs for the population. A) True. B) False. Show Answer Correct Answer: A) True. 8. The Economy depends on the people because they are the ones who spend most of the ..... A) Profits. B) Taxes. C) Money. D) Time. Show Answer Correct Answer: C) Money. 9. The capital-output ratio in a country during the different phases of growth A) Remains unchanged. B) Fluctuates widely. C) Changes within narrow limits. D) Shows a secular declining trend. Show Answer Correct Answer: C) Changes within narrow limits. 10. Which country does not provide enough money for education? A) South Africa. B) Niger. C) Nigeria. D) Botswana. Show Answer Correct Answer: C) Nigeria. 11. Which of the following changes is most likely to shift the AD curve to the right? A) A decrease in government spending. B) A rise in interest rates. C) A depreciation of the exchange rate. D) A period of consumer price deflation. Show Answer Correct Answer: C) A depreciation of the exchange rate. 12. ..... on the other hand comprises of improvement in the quality of life with the increase in the real output. Economic measures include HDI, IHDI, CPI, GDP-PC, etc. A) Economic Growth. B) Economic Development. Show Answer Correct Answer: B) Economic Development. 13. The knowledge and skills possessed by people that places value on them in the job market is ..... A) Human capital. B) Capital goods. C) GDP. D) Trade. Show Answer Correct Answer: A) Human capital. 14. Economic growth is measured by A) Changes in GDP from one period to another. B) GDP. C) GDP from one period to another. D) None of above. Show Answer Correct Answer: A) Changes in GDP from one period to another. 15. ..... was a leader in the steel industry. A) Rockefeller. B) Walker. C) Carnegie. D) Morgan. E) Vanderbilt. Show Answer Correct Answer: C) Carnegie. 16. What factors can cause economic growth? A) Decrease in investment. B) Decrease in the labour force. C) Improved technology. D) Decrease in education quality. Show Answer Correct Answer: C) Improved technology. 17. What did increased production efficiencies lead to in the 1920s? A) Economic growth and prosperity. B) Economic stagnation. C) Rising unemployment rates. D) Decreased consumer spending. Show Answer Correct Answer: A) Economic growth and prosperity. 18. One of the key aims of the Australian government is to ensure that as the population expands, sufficient goods and services are available to satisfy needs and wants and new jobs are created for those who enter the workforce. A) True. B) False. Show Answer Correct Answer: A) True. 19. What is the ultimate effect of capital deepening? A) Increased wages from demand for workers. B) Increased Demand for machines. C) Increased factors of production. D) Stable GDP per capita. Show Answer Correct Answer: A) Increased wages from demand for workers. 20. How do we measure economic growth and development? A) Measuring economic growth based on the number of tourists visiting a country. B) Using indicators such as GDP, GNI, HDI, and other economic and social indicators. C) By counting the number of new businesses opened in a year. D) Using indicators such as happiness index and unemployment rate. Show Answer Correct Answer: B) Using indicators such as GDP, GNI, HDI, and other economic and social indicators. ← 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