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Economic Growth Quiz 13 (25 MCQs)

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1. What must be present for an economy to be measured?
2. Who was one of the most successful cowgirls in Texas history?
3. What do we call the phase in an economic cycle when the economy is doing really well?
4. A country experiencing a high rate of economic growth may take some of the benefits in the form of increased _____
5. Economic growth is measured through GDP while human development is measured through levels of education, healthcare and other quality of life measures.
6. What role does education play in economic growth?
7. A country can increase its human capital by investing in _____
8. The curve above shows economic growth_____
9. The economy fluctuates between periods of _____ in the short run, but economic growth can occur in the long run.
10. Higher the literacy rate, generally the
11. What is the latest scientific method and production technique that helps increase productivity?
12. How have investments in Human Capital and capital goods impacted the UK and Germany's economy?
13. A benefit of economic growth is that the government tax revenue will increase, and the amount spent on unemployment benefits reduce
14. Using the chart under Data analysis, (on page 51) Which country has the lowest literacy rate?
15. When an economy produces more output per capital the economy is said to be having
16. An economic recession is defined as _____
17. What will generally happen to the aggregate demand curve when consumer confidence is too low?
18. In a production possibilities frontier model, a point _____ the frontier is productively inefficient.
19. Which of the following is NOT a form of capital?
20. What are the costs of economic growth for consumers?
21. Which country has invested capital good toward telecommunications?
22. What measures could help India take advantage of Western efforts to shift supply chains out of China?
23. Which of these natural resources is in extremely short supply in the Middle East?
24. A resource used to produce a good or service
25. Low labour mobility can lead to unemployment:
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