This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 76 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 76 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Hundreds of Lakota men, women, and children were killed by ..... at ..... A) Apaches; Pikes Peak. B) The U.S. Army; Wounded Knee. C) Vigilantes; Fort Laramie. D) George Custer's soldiers; Sand Creek. Show Answer Correct Answer: B) The U.S. Army; Wounded Knee. 2. Development means increasing standards and quality of life A) True. B) False. Show Answer Correct Answer: A) True. 3. ..... was a leader in the banking and steel industries. A) Rockefeller. B) Walker. C) Carnegie. D) Morgan. E) Vanderbilt. Show Answer Correct Answer: D) Morgan. 4. Which is the best definition of a "boom and bust cycle" ? A) A period of business growth followed by a period in industry failures. B) A period of high unemployment followed by a growth period. C) A period of low profits followed by a large growth in an industry. D) A period of growth leading to higher employment. Show Answer Correct Answer: A) A period of business growth followed by a period in industry failures. 5. Why don't government planners try to end seasonal unemployment? A) It would eliminate too many jobs. B) Many people do not want to work all year. C) It would be too expensive. D) It is a natural part of a healthy economy. Show Answer Correct Answer: D) It is a natural part of a healthy economy. 6. Which of the following is an example of human capital? A) Trucks. B) Factories. C) Education. D) Highways. Show Answer Correct Answer: C) Education. 7. An appropriate fiscal policy to combat a recession would be to increase which of the following? A) Interest rates. B) The money supply. C) Taxes. D) Government spending. Show Answer Correct Answer: D) Government spending. 8. Economic growth should always be the top priority of the country, therefore converting ancestral land to productive land is correct always. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 9. Doing or making a lot. A) Productive. B) Net. C) Per capita. D) None of above. Show Answer Correct Answer: A) Productive. 10. ..... resources come from nature. A) Human. B) Natural. C) Labour. D) Physical. Show Answer Correct Answer: B) Natural. 11. This type of government has many laws that support the needs and well being of its citizens e.g free health care, subsidized housing & childcare, and unemployment compensation A) Reformist socialism. B) Bretton woods agreement. C) Welfare state. D) Federal system. Show Answer Correct Answer: C) Welfare state. 12. What is the main condition necessary for the success of import substitution industrialization (ISI)? A) Subsidies for domestic industries. B) Free movement of labor. C) Liberalized trade. D) Protectionist system with tariff barriers. Show Answer Correct Answer: D) Protectionist system with tariff barriers. 13. Central Asia has an abundance of mineral resources such as gold. A) True. B) False. Show Answer Correct Answer: A) True. 14. D. an increase in the government deficit following a decrease in personal income taxes. A) Increased economic growth. B) Decreased economic growth. C) No change in economic growth. D) None of above. Show Answer Correct Answer: B) Decreased economic growth. 15. What is the best explanation of factors of production? A) Raw materials used to produce products. B) Labour and materials. C) Money and financing. D) Resources used by a company to produce good and services. Show Answer Correct Answer: A) Raw materials used to produce products. 16. By devaluing the value of a country's currency, the price of their exports in overseas markets will become more expensive and the price of imports into the country will become cheaper. A) True. B) False. Show Answer Correct Answer: B) False. 17. Which answer choice below defines literacy rate? A) Machines, tools, and factories use to make products and goods. B) The training that workers need to be good at their job. C) The amount of people over 15 in a country that can read write. D) None of above. Show Answer Correct Answer: C) The amount of people over 15 in a country that can read write. 18. What is the effect of capital goods on economics? A) Fluctuates GDP. B) Increases GDP. C) No impact on GDP. D) Decreases GDP. Show Answer Correct Answer: B) Increases GDP. 19. What happens to GDP when education levels go up? A) It increases. B) It decreases. Show Answer Correct Answer: A) It increases. 20. Why did miners in the West create groups of vigilantes? A) To clear forests and prepare for mining. B) To take control of claims from businesses. C) To enforce laws and punish criminals. D) To replace independent prospectors. Show Answer Correct Answer: C) To enforce laws and punish criminals. ← 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