This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 56 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 56 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Economic growth is important because with positive economic growth we can expect ..... A) Lower unemployment rates as more workers are needed in production. B) Lower income received by households in the economy. C) Lower tax revenues for government spending. D) All of the above. Show Answer Correct Answer: A) Lower unemployment rates as more workers are needed in production. 2. More efficient production methods would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: B) Productive capacity. 3. Which of the following is a withdrawal from the circular flow of income? A) Exports. B) Savings. C) Investment. D) Government Spending. Show Answer Correct Answer: B) Savings. 4. The factories, machinery, technology, etc. that are necessary to sustain a service or industry A) Human Capital. B) Natural Resource. C) Capital Goods. D) Literate. Show Answer Correct Answer: C) Capital Goods. 5. Quality education in the country is an aspect of Economic ..... A) Growth. B) Development. Show Answer Correct Answer: B) Development. 6. Indonesia having the largest GDP in Southeast Asia means that it has the highest standard of living among countries. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 7. Economic Development is ..... A) Quantitative. B) Qualitative. Show Answer Correct Answer: B) Qualitative. 8. The colonists believed all were advantages to a Royal government EXCEPT: A) The King is impartial, which makes him a fair ruler. B) The English military can offer protection for the settlers. C) England can tax the colonists as it sees fit. D) England is the most powerful Empire on Earth. Show Answer Correct Answer: C) England can tax the colonists as it sees fit. 9. What is the main goal of structural adjustment programs in developing countries? A) To increase government intervention. B) To promote import substitution. C) To reduce foreign aid. D) To promote economic liberalization. Show Answer Correct Answer: D) To promote economic liberalization. 10. To promote ..... and sustainable economic growth, ..... and decent ..... for all. A) Work, economic, oportunities. B) Inclusive, employment, work. C) Growth, economic, percent. D) Inclusive, work, decent. Show Answer Correct Answer: B) Inclusive, employment, work. 11. What is the goal of inclusive growth policies? A) To ensure economic advancements benefit everyone. B) To increase income inequality. C) To promote economic stability. D) To create a more balanced society. Show Answer Correct Answer: A) To ensure economic advancements benefit everyone. 12. Why would the "services" sector of the economy likely be doing poorly right now? A) The virus has people staying home. B) People are eating out more. C) People would rather go out shopping than buy online. D) None of above. Show Answer Correct Answer: A) The virus has people staying home. 13. People who provide the money to start and operate a business are called what? A) Leaders. B) Entrepreneurs. C) Politicians. D) Presidents. Show Answer Correct Answer: B) Entrepreneurs. 14. At the end of the 1990s and start of the 2000s, Ireland experience a BOOM-what is this boom referred to as? A) The Celtic Lion. B) The Celtic Boom. C) The Celtic Tiger. D) The Big Irish Boom. Show Answer Correct Answer: C) The Celtic Tiger. 15. Economic Growth can reduce tax revenues for the government A) True. B) False. Show Answer Correct Answer: B) False. 16. What is the ratio of people without a job in the world? A) 400 million people. B) 1 of 6 people. C) 14 per cent. D) Just a bunch. Show Answer Correct Answer: B) 1 of 6 people. 17. What is meant by economic growth? A) A decrease in the budget deficit. B) An increase in population. C) An increase in budget surplus. D) An increase in real GDP. Show Answer Correct Answer: D) An increase in real GDP. 18. ..... are the man-made materials that are needed to produce goods and services A) Capital goods. B) Human capital. C) Natural Resources. D) Gross Domestic Goods. Show Answer Correct Answer: A) Capital goods. 19. What is the World Bank's view on inclusive growth? A) It promotes equitable distribution of benefits. B) It supports income inequality. C) It focuses on reducing access to education. D) It benefits individuals but not nations. Show Answer Correct Answer: A) It promotes equitable distribution of benefits. 20. What is the total value of all the goods andservices produced in that country in oneyear? A) Economy. B) GDP. C) Economic Growth. D) Traditional Economy. Show Answer Correct Answer: B) GDP. ← 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