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Economic Growth Quiz 23 (25 MCQs)

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1. The "Fire" Nation's GDP in 2018 was £2380 & 2019 was £2615. If we use 2018 as the base year, how much will the Fire Nation's economy grow?
2. A place where business pay little or no tax.
3. What is the primary consequence of a fall in asset prices during a recession?
4. What is the state in which a country's successes become the norm, or habit, according to Rostow's model?
5. Which of the following is NOT a possible outcome when AD increases?
6. Edoardo tutors children in need and gets paid in cash each week. Is this included in GDP?
7. At which stage of the economic cycle would you expect consumers to have the highest levels of disposable income?
8. GDP = Consumption by households + Investment by producers + government spending + (imports-exports)
9. Why have the Israelis made a big investment in human capital?
10. Future rates of economic growth are likely to decline as a consequence of:
11. What does standard of living mean?
12. Which factor is being described in the following list:oil, plants, water, gold?
13. Which of the following is not a part of the National Income?
14. What was the main effect of buying stocks on margin?
15. The percentage of people who are over 15 years old who have the ability to read and write
16. Which one of the following would have an effect on the rate of economic growth that is different to that of the other three?
17. Economic growth can be measured as the growth rate in _____ over time.
18. According to paragraph 2, one effect of the desire to increase food production was that
19. Give an example of a natural resource used in the economy.
20. All of the following stimulate Economic Growth except
21. How does Bangladesh's wealth impact its citizens?
22. John learns a skill
23. People that are willing to take risks and start new businesses or invent new items help to stimulate their countries economies. What factor of production does this represent?
24. Oil refinery is an industrial process where crude oil is transformed into more useful products such as petroleum.
25. What is the relationship between education and training in a country and the country's gross domestic product (GDP)?
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