This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 93 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 93 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Private Sector A) Those who risk their own money and resources to create a new businesses or service. B) The part of the economy owned and operated by private citizens. Show Answer Correct Answer: B) The part of the economy owned and operated by private citizens. 2. Gross domestic product expressed in constant, or unchanging, prices A) Gdp. B) Nominal gdp. C) Real gdp. D) Personal income. Show Answer Correct Answer: C) Real gdp. 3. What is the main challenge faced by Bangladesh in terms of political stability? A) Frequent political unrest and violence. B) High literacy rate. C) Strong political leadership. D) Lack of natural resources. Show Answer Correct Answer: A) Frequent political unrest and violence. 4. Countries with a higher GDP per capita have stronger economies, while countries with lower GDP per capita have ..... A) Productive resources. B) Goods & services produced. C) Others do not. D) Per person. E) Weaker economies. Show Answer Correct Answer: E) Weaker economies. 5. A suitable policy to address a deflationary gap would be: A) Decreasing government spending. B) Raising interest rates. C) Lowering taxes. D) Reducing minimum wage. Show Answer Correct Answer: C) Lowering taxes. 6. What are the four basic factors that influence economic growth in ANY part of the world? A) Natural resources, capital goods, human resources, and technology. B) Natural resources, capital goods, human resources, entrepreneurship. C) Natural resources, capital goods, human nature, machines. D) Natural resources, capital goods, uranium, entrepreneurship. Show Answer Correct Answer: B) Natural resources, capital goods, human resources, entrepreneurship. 7. According to the HSBC Global Connection survey, what percentage of firms already operating in Indonesia are planning to prioritize their growth in the country over the next two years? A) 20%. B) 15%. C) 25%. D) 22%. Show Answer Correct Answer: D) 22%. 8. Government established rules to prevent businesses from harming citizens. A) Regulations. B) Reservations. C) Populism. D) None of above. Show Answer Correct Answer: A) Regulations. 9. Describe the impact of poverty cycle on society. A) Increased crime rates, lower educational attainment, poor health outcomes, and perpetuation of inequality. B) Increased economic growth, higher employment rates, improved infrastructure, and reduction of poverty. C) Decreased crime rates, higher educational attainment, improved health outcomes, and reduction of inequality. D) No impact on crime rates, educational attainment, health outcomes, or inequality. Show Answer Correct Answer: A) Increased crime rates, lower educational attainment, poor health outcomes, and perpetuation of inequality. 10. Many of the hostilities and conflicts between the Native Americans and Europeans occur as a result of ..... A) Hostile Indian leaders who did not like the white settlers. B) Different understandings about land ownership. C) Not being able to speak the same language. D) Conflicting religious beliefs. Show Answer Correct Answer: B) Different understandings about land ownership. 11. Argentinean players paying PLAY STATION PLUS service in dollars: A) Argentina Balance of payment increases. B) Argentina Balance of payment decreases. C) Argentina Balance of payment remains the same. D) None of above. Show Answer Correct Answer: B) Argentina Balance of payment decreases. 12. How is GDP per capita calculated? A) GDP * Population. B) GDP-Population. C) GDP / Population. D) None of the above. Show Answer Correct Answer: C) GDP / Population. 13. Which countries were included in the term 'BRIC'? A) Brazil, Russia, India, China. B) Bangladesh, Egypt, Indonesia, Iran. C) Mexico, Indonesia, Turkey. D) Nigeria, Pakistan, Philippines, South Korea. Show Answer Correct Answer: A) Brazil, Russia, India, China. 14. The US Government commits to only purchase American-made products moving forward. Will economic growth occur? Which growth factor contributed is the cause? (If none, only select one answer) A) Growth will occur. B) Growth will not occur. C) Technology. D) Human Capital. E) Economic Environment. Show Answer Correct Answer: B) Growth will not occur. 15. What is a potential consequence of a fall in consumer/business confidence during a recession? A) Increased demand. B) Higher production. C) Reduction in supply. D) Lower demand and supply. Show Answer Correct Answer: D) Lower demand and supply. 16. GDP is often measured as "GDP per capita" ( ..... ) A) Productive resources. B) Goods & services produced. C) Others do not. D) Per person. E) Weaker economies. Show Answer Correct Answer: D) Per person. 17. Calculate the economic growth rate if GDP was £60 billion in Year 1 and £63 billion in Year 2. A) 1%. B) 5%. C) 10%. D) 15%. Show Answer Correct Answer: B) 5%. 18. Doctors, teachers, factory workers, etc. are examples of: A) Entrepreneurship. B) Human capital. C) Capital goods. D) Natural resources. Show Answer Correct Answer: B) Human capital. 19. A stokvel is: A) A group of old people contributing monies to gamble. B) A group savings scheme where members contribute a fixed amount of money every month to a common pool. C) A group of companies that want to reach their sales target by fixing prices on their products. D) A group of young people that contribute a certain percentage of their incomes in order to take vacations on planned trips. Show Answer Correct Answer: B) A group savings scheme where members contribute a fixed amount of money every month to a common pool. 20. Why are poverty rates higher in rural areas than average? A) People in rural areas do not use money as much. B) Jobs may be more limited in many rural areas. C) Schools are not as good in rural areas. D) Inner cities have the best jobs. Show Answer Correct Answer: B) Jobs may be more limited in many rural areas. ← 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