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Economic Growth Quiz 11 (25 MCQs)

Quiz Instructions:

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1. Which of the following is a method to measure the National Income?
2. All of the following are reasons why early European settlers came to Carolina and the new world, EXCEPT:
3. What can we do to fix some of the issues?
4. In division of labour, workers are _____
5. Educated workers have helped the U.S. to have a high gross domestic product.
6. To boost economic growth the government is most likely to
7. It is an increase in a country's real level of national output.which can be caused by an increase in the quality of resources (by education etc.), increase in the quantity of resources & improvements in technology or in another way an increase in the value of goods and services produced by every sector of the economy.
8. The diagram shows an economy's production possibility curve. What causes a movement from point X to point Y?
9. A _____ factor for urbanization (movement to cities from rural areas) was jobs.
10. Economic growth can be shown diagrammatically as
11. What invention did Joseph Glidden invent?
12. An example of human capital is
13. What do firms receive in return for selling goods and services?
14. True or False:The Dawes Act broke up tribal reservations into individual lots, like the Homestead Act.
15. Which is an example of entrepreneurship?
16. In what area did airplanes for prove to be of practical value?
17. What happened as a result of the discovery of Oil in Spindletop?
18. What are the consequences of economic recession?
19. Real Gross Domestic Product (GDP) is:
20. Long-run economic growth is also known as potential growth
21. A benefit of economic growth is that there will be funds to invest in cleaner and more efficient production processes thus reducing the environmental impact
22. An economy that has characteristics of both command and market economies
23. What is a county's GDP divided by its population called?
24. Why is it important for a country to invest in human capital?
25. What happened as a result of the Berlin Conference?
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