This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 27 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 27 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is not a supply side policy to encourage economic growth? A) Subsidies on research & development. B) Privatization and deregulation. C) Lowering corporation tax. D) A rise in investment. Show Answer Correct Answer: D) A rise in investment. 2. Michelle is opening a new restaurant A) Entrepreneur. B) Capital Goods. C) Human Capital. D) Natural Resources. Show Answer Correct Answer: A) Entrepreneur. 3. Which of the following does the dimension of expanding economic opportunities and increasing access to economic opportunities contribute to? A) Pagbabago (enhancing the social fabric). B) Malasakit (reducing inequality). C) Enhancing growth potential. D) None of above. Show Answer Correct Answer: B) Malasakit (reducing inequality). 4. Which South African country boosts nearly 1/2 of the world's gold reserves? A) Botswana. B) South Africa. C) Nigeria. D) Senegal. Show Answer Correct Answer: B) South Africa. 5. Would the following be included or not included in GDP? The purchase of a used tractor by a farmer. A) Not included. B) Included. Show Answer Correct Answer: A) Not included. 6. Apa judul buku yang memuat teori pertumbuhan ekonomi Walt Whitman Rostow?What is the title of Walt Whitman Rostow's book that contains economic growth theory? A) The stages of economic. B) The economic income growth. C) The stages of economic growth. D) The economic growth. Show Answer Correct Answer: C) The stages of economic growth. 7. What was opened in 2011, at a cost of £181million? A) Improved A14. B) Hills Road cycle lanes. C) The Bridge of Sighs. D) The Guided Busway. Show Answer Correct Answer: D) The Guided Busway. 8. What is the final stage in Rostow's stages of economic growth model? A) Traditional Society. B) Preconditions for Takeoff. C) High Mass Consumption. D) Takeoff. Show Answer Correct Answer: C) High Mass Consumption. 9. Economic growth is A) A increase in the amount of goods and services produced per head of the population over a period of time. B) An amount of something left over when requirements have been met; an excess of production or supply. C) A percentage charged on the total amount you borrow or save. D) An increase in the amount of goods and services produced by a business over a period of time. Show Answer Correct Answer: A) A increase in the amount of goods and services produced per head of the population over a period of time. 10. How does sustainable economic growth differ from rapid economic growth? A) Sustainable growth has a higher inflation rate. B) Rapid growth is always sustainable. C) Sustainable growth considers long-term consequences. D) Rapid growth is more environmentally friendly. Show Answer Correct Answer: C) Sustainable growth considers long-term consequences. 11. What is one of the unique fundamentals of Indonesia's economy mentioned in the article? A) Rising Domestic Income and Wealth. B) Small Population Size. C) Limited Natural Resources. D) High Tax Rates. Show Answer Correct Answer: A) Rising Domestic Income and Wealth. 12. A quota is a physical limit on the quantity of a good that is allowed into a country. A) False. B) True. Show Answer Correct Answer: B) True. 13. What is the main goal of trade liberalisation? A) To encourage FDI flows. B) To increase import tariffs. C) To promote protectionism. D) To reduce government intervention. Show Answer Correct Answer: D) To reduce government intervention. 14. ..... are people who want work, but do not have any special skills. A) Semi-skilled. B) Unskilled. C) Skilled. D) Highly skilled. Show Answer Correct Answer: B) Unskilled. 15. Which combination of factors is most likely to result in more rapid economic growth? A) Increases in employment and in the balance of payments deficit. B) Increases in the level of investment and in the size of the working population. C) More equal distribution of wealth and a higher level of unemployment benefits. D) More rapid inflation and an increase in the national debt. Show Answer Correct Answer: B) Increases in the level of investment and in the size of the working population. 16. Sustainable Economic growth is ..... A) A large GDP growth and not huge price change. B) A small GDP growth and not huge price change. C) A large GDP growth and a huge price change. D) A small GDP growth and a huge price change. Show Answer Correct Answer: A) A large GDP growth and not huge price change. 17. An example of natural resource is A) School. B) Oil. C) Both. D) None of above. Show Answer Correct Answer: B) Oil. 18. Which of the following is commonly defined as a ratio between the output volume and the volume of inputs? A) Economic Output. B) Aggregate Production. C) Capital Deepening. D) Productivity. Show Answer Correct Answer: D) Productivity. 19. If a country experienced a substantial loss of property due to a natural disaster, what would the impact be on the PPC? A) An inwards shift of the PPC. B) An upwards shift along the PPC. C) A downwards shift along the PPC. D) An outwards shift of the PPC. Show Answer Correct Answer: A) An inwards shift of the PPC. 20. What can be the result of sudden increase in interest rates? A) Recession phase. B) Boom phase. C) Slowdown phase. D) Trough phase. Show Answer Correct Answer: A) Recession phase. 21. What is the most important factor for economic growth according to the text? A) Property rights. B) Honest government. C) Political stability. D) Competitive and open markets. Show Answer Correct Answer: A) Property rights. 22. Doubling the amount of L and K under constant returns to scale does all of the following except: A) Leaves output unchanged. B) Doubles the output of the product of intensity K. C) Doubles the production of the product of intensity L. D) Leaves the shape of the KPD unchanged. Show Answer Correct Answer: D) Leaves the shape of the KPD unchanged. 23. With economic growth, the proportion of labour-force engaged in agriculture A) Changes in an uncertain manner. B) Decreases. C) Remains unaffected. D) Increases. Show Answer Correct Answer: B) Decreases. 24. The first labor union was the ..... A) AFL. B) NAACP. C) Knights of Labor. D) None of above. Show Answer Correct Answer: C) Knights of Labor. 25. If Canada wanted increase the value of its "human capital, " which of these would be the BEST course of action? A) Increase funding to public schools. B) Build more factories. C) Reach a trade agreement with the United States. D) Increase the amount of oil exports. Show Answer Correct Answer: A) Increase funding to public schools. 26. How do changes in technology primarily affect economic growth? A) By reducing total production. B) By decreasing the quality of factors of production. C) By enabling more efficient production processes. D) By reducing the demand for goods and services. Show Answer Correct Answer: C) By enabling more efficient production processes. 27. Someone who takes risks to start a new business: A) Capital goods. B) Natural resources. C) Human capital. D) Entrepreneurship. Show Answer Correct Answer: D) Entrepreneurship. 28. What does Gross Domestic Productmean? A) The total value of all goods and services a country imports. B) The total value of all goods and services a country exports. C) The total value of all goods and services produced within a country in one year. D) The net loss in profits within a country due to imports. Show Answer Correct Answer: C) The total value of all goods and services produced within a country in one year. 29. How does improved technology allow the economy to operate more efficiently? A) It enables people to work fewer hours. B) It ensures that all of the nation's resources will be used. C) It ensures that all of the nation's workers are employed. D) It helps to make better use of the nation's limited resources. Show Answer Correct Answer: D) It helps to make better use of the nation's limited resources. 30. In what way did white settlers misinterpret the Ghost Dance? A) They believed it was a preparation for war. B) They believed the Native Americans were finally adapting to white culture. C) They believed it was part of a buffalo hunt. D) They saw it as a way to honor the white settlers who brought the Iron Horse. Show Answer Correct Answer: A) They believed it was a preparation for war. ← 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