This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 23 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The measurement of economic growth is remove the effects of inflation. A) True. B) False. Show Answer Correct Answer: A) True. 2. What is Gross Domestic Product? A) The total value of the current economic market in one year. B) The total value of goods exported to another country in one year. C) The total value of goods produced and services provided in a county during one year. D) The total value of goods and services imported to anther country in one year. Show Answer Correct Answer: C) The total value of goods produced and services provided in a county during one year. 3. Real GDP per capita means A) Real GDP per head. B) Real GDP per worker. C) GDP before inflation. D) Real GDP per household. Show Answer Correct Answer: A) Real GDP per head. 4. Which of the following is not part of the circular flow of income in an economy? A) Production. B) Unemployment. C) Expenditure. D) Income. Show Answer Correct Answer: B) Unemployment. 5. Where is nearly one-half of the world's gold reserve located? A) Kenya. B) Nigeria. C) Sudan. D) South Africa. Show Answer Correct Answer: D) South Africa. 6. Doubling L with trade in a small L-sufficient country: A) Reduces national consumption. B) Reduces the welfare of representative citizens. C) Hampers the country's terms of trade. D) Reduces trade volume. Show Answer Correct Answer: B) Reduces the welfare of representative citizens. 7. The late 1800's civil rights leader that believed in the "talented tenth" becoming leaders through an intellectual academic pursuit at university was ..... A) Booker T. Washington. B) Ida B. Wells. C) W.E.B. DuBois. D) George Washington Carver. Show Answer Correct Answer: C) W.E.B. DuBois. 8. Despite their increasing presence in public life, women continue to do ..... times the unpaid care and domestic work that men do. A) 1.5. B) 4.6. C) 2.9. D) 2.6. Show Answer Correct Answer: D) 2.6. 9. ..... workers have some training in using tools or machines. A) Semi-skilled. B) Skilled. C) Highly skilled. D) Unskilled. Show Answer Correct Answer: A) Semi-skilled. 10. On a Production Possibility Curve (PPC), how is economic growth illustrated? A) An inward shift of the PPC. B) A point inside the PPC. C) An outward shift of the PPC. D) None of the above. Show Answer Correct Answer: C) An outward shift of the PPC. 11. A country with a (a) tends to have a higher standard of living. A) A higher GDP per capita. B) Lower GDP per capita. Show Answer Correct Answer: A) A higher GDP per capita. 12. Which of the following is a key policy tool for inclusive growth? A) Investing in human capital and physical infrastructure. B) Increasing income inequality. C) Reducing access to education. D) Limiting competition and trade. Show Answer Correct Answer: A) Investing in human capital and physical infrastructure. 13. Governments spend ..... revenue on services such as education. A) Sales. B) Capital. C) Import. D) Tax. Show Answer Correct Answer: D) Tax. 14. Overall, starting a new business in Israel and Saudi Arabia is (easier/harder) than the world average. A) Easier. B) Harder. Show Answer Correct Answer: A) Easier. 15. What can happen to unemployment when the economy slows down? A) It rises because the demand for labor goes down. B) It falls because the demand for labor goes up. C) It rises because the cost of labor goes up. D) It rises because production speeds up. Show Answer Correct Answer: A) It rises because the demand for labor goes down. 16. Things that are made or grown and then sold. A) Goods. B) Productive. C) Service. D) None of above. Show Answer Correct Answer: A) Goods. 17. Most countries measure economic growth each quarter A) Fortnight. B) Quarter. C) Year. D) None of the above. Show Answer Correct Answer: B) Quarter. 18. The performance of a duty or work for another person. A) Import. B) Service. C) Goods. D) None of above. Show Answer Correct Answer: B) Service. 19. Inflationary gaps often lead to: A) Higher inflation rates. B) Price stability. C) Increased saving rates. D) Decreased cost of living. Show Answer Correct Answer: A) Higher inflation rates. 20. What is a key policy tool for inclusive growth? A) Monetary policy. B) Education policy. C) Fiscal policy. D) Trade policy. Show Answer Correct Answer: C) Fiscal policy. 21. What can we do to increase economic growth in our community? A) Avoid natural resources. B) Ignore entrepreneurship. C) Decrease investment in capital goods. D) Invest in human capital. Show Answer Correct Answer: D) Invest in human capital. 22. What does productive capacity measure? A) Measures an economies potential rather than looking at what they actually produce. B) Measures an economies actual ability to produce goods and services. C) Measure an economy's potential. D) None of above. Show Answer Correct Answer: A) Measures an economies potential rather than looking at what they actually produce. 23. What is Not an example of a Natural Resource? A) Land. B) Computer. C) Water. D) Sun. Show Answer Correct Answer: B) Computer. 24. Which country has invested capital goods in the automotive industry? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: B) Germany. 25. What is the role of natural resources in economic growth? A) Fluctuates economic growth. B) Decreases economic growth. C) Increases economic growth. D) No impact on economic growth. Show Answer Correct Answer: C) Increases economic growth. 26. Increases in long-run growth are caused by an increase in aggregate supply A) Yes, I understand this from the notes. B) No, I don't understand this from the notes. C) No, I don't understand this, as I have not read the notes. D) None of above. Show Answer Correct Answer: A) Yes, I understand this from the notes. 27. A material on or in the earth that has economic value. A) Capital Goods. B) Public sector. C) Natural resource. D) Human Capital. Show Answer Correct Answer: C) Natural resource. 28. "Gifts of Nature" A) Capital Goods. B) Human Capital. C) Natural Resources. D) Physical Goods. Show Answer Correct Answer: C) Natural Resources. 29. Which one is NOT a factor when determining the HDI of a country? A) Income. B) Miltary Size. C) Education. D) Health. Show Answer Correct Answer: B) Miltary Size. 30. What type of transportation in Virginia helped cities grow? A) Streetcars. B) Railroads. C) Roads. D) All of the above. Show Answer Correct Answer: D) All of the above. ← 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