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Economic Growth Quiz 22 (30 MCQs)

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1. What is a concern related to export promotion strategy?
2. The Resource Management Act (1991) is about making sure NZ:
3. Why did the ONU give this proposal?
4. What region is best known for seafood, peanuts, shipbuilding, tourism, and military bases?
5. The total dollar value of all final goods and services produced within the country's border in a given year. This measure includes inflation.
6. Negative output gap puts downwards pressure on inflation
7. Which of the following is a true representation of aggregate demand?
8. What are the costs of economic growth for the government?
9. The AD curve slopes downwards because
10. What basic amenities do people living in Mumbai's squatter settlements have access to?
11. What does the following argument, which is based on diminishing marginal returns, favor the most?Even though deepening human and physical capital will tend to increase GDP per capita, the law of diminishing returns suggests that as an economy continues to increase its human and physical capital, the marginal gains to economic growth will diminish. For example, raising the average education level of the population by two years from a tenth-grade level to a high school diploma (while holding all other inputs constant) would produce a certain increase in output. An additional two-year increase, so that the average person had a two-year college degree, would increase output further, but the marginal gain would be smaller. Yet another additional two-year increase in the level of education, so that the average person would have a four-year-college bachelor's degree, would increase output still further, but the marginal increase would again be smaller. A similar lesson holds for physical capital. If the quantity of physical capital available to the average worker increases, by, say, $ 5, 000 to $ 10, 000 (again, while holding all other inputs constant), it will increase the level of output. An additional increase from $ 10, 000 to $ 15, 000 will increase output further, but the marginal increase will be smaller.
12. What are the building blocks for sustaining high growth?
13. What is the potential long-term impact of recession on an economy's Production Possibility Curve (PPC)?
14. Does the size of the country have anything to do with their GDP?
15. Education, training, skills and health are examples of
16. Which of the following is NOT a factor of economic growth?
17. Paragraph 4 supports the idea that increased agricultural production was important for the expansion of industry primarily because it
18. How do literacy rates affect their standard of living?
19. Which if the following is a negative of economic growth?
20. An increase in which of the following is most likely to promote economic growth?
21. How do patents act as an incentive to technological innovation?
22. What is a problem with using GDP as a measure of living standards?
23. What is Not an example of Capital goods?
24. What does urbanization mean?
25. Alexander Graham Bell invented the .....
26. Spends money on non-essential goods (consumerism).
27. Based on what you know about literacy rates, which country probably has the highest standard of living-South Africa, Kenya or Nigeria?
28. Impact of vertical integration on a business.
29. Type of unemployment that occurs as a result of harvest schedules, or lack of hotel bookings in winter.
30. Why can be done to keep the economy stable and safe?
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