This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 29 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 29 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the purpose of property rights? A) To protect investments. B) To enforce contracts. C) To create competitive and open markets. D) To bring ideas, people, and capital together. Show Answer Correct Answer: A) To protect investments. 2. Which of the following is NOT an effect railroads had on Texas. A) Provided jobs to many people. B) Created a faster method of transportation. C) Gave American Indians more opportunities for land ownership. D) Transported cattle and other goods across the country. Show Answer Correct Answer: C) Gave American Indians more opportunities for land ownership. 3. The way in which goods and services are made, sold, and used in a country A) Economic Growth. B) Mixed Economy. C) Economy. D) Economic Contiuumn. Show Answer Correct Answer: C) Economy. 4. When the military temporarily takes control of the country; usually due to a crisis or emergency A) Dissidents. B) Martial law. C) Destalinization. D) Reformist socialism. Show Answer Correct Answer: B) Martial law. 5. What is the main factor that influences the literacy rate in a country? A) Quality of education. B) Amount of capital goods. C) Level of entrepreneurship. D) Availability of natural resources. Show Answer Correct Answer: A) Quality of education. 6. Chalk and gypsum deposits found in the United Kingdom are sources of what type of resource? A) A natural resource. B) A capital resource. C) Entrepreneurship. D) Human capital. Show Answer Correct Answer: A) A natural resource. 7. Haiti invests in the expansion of its ports. A) Physical capital. B) Human capital. Show Answer Correct Answer: A) Physical capital. 8. A sustained general increase in prices across an economy. A) Consumer Price Index. B) Deflation. C) Inflation. D) Disinflation. Show Answer Correct Answer: C) Inflation. 9. A benefit of economic growth is that there will be a rise in the standards of living 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. 10. Country X has a high gross domestic product. Country Y has a much lower gross domestic product than Country X. Which of the following statements is MOST LIKELY correct? A) Citizens in Country Y have a higher standard of living. B) There is less environmental pollution in Country X. C) Citizens in Country Y have less access to education. D) There is a higher level of unemployment in Country X. Show Answer Correct Answer: C) Citizens in Country Y have less access to education. 11. What does "decent work" mean? A) Opportunities for everyone to get work that is productive and delivers a fair income. B) Security in the workplace and social protection for families. C) Better prospects for personal development and social integration. D) All of them. Show Answer Correct Answer: D) All of them. 12. Lemons in Tucuman province that are mainly exported to USA are an example of: A) International Specialisation. B) Regional Specialisation. C) Both options. D) None of the options. Show Answer Correct Answer: B) Regional Specialisation. 13. A person who brings together natural, human and capital resources to produce goods or services; a person who has creative, innovative ideas about new goods or services that people might want, or better ways to produce existing goods or services. A) Entrepreneur. B) Human capital. C) GDP per capita. D) None of these. Show Answer Correct Answer: A) Entrepreneur. 14. Political party that wanted to increase the amount of money in circulation by using silver to back U.S. currency. A) Whig Party. B) Republican Party. C) Populist Party. D) Democratic Party. Show Answer Correct Answer: C) Populist Party. 15. Gifts of nature are called ..... A) Human capital. B) Entrepreneur. C) Capital goods. D) Natural resources. Show Answer Correct Answer: D) Natural resources. 16. The GNP of "Wonderland" in 2020 is $ 2, 380, 250. If in 2020, Wonderland citizens are 65, 536 residents, what is the GNP per Capita of "Wonderland" ? A) $ 32.63 / per capita. B) $ 36.32 / per capita. C) $ 33.62 / per capita. D) $ 36.23 / per capita. E) $ 32.32 / per capita. Show Answer Correct Answer: B) $ 36.32 / per capita. 17. An outward shift in the PPC is analogous to a ..... shift of the long-run aggregate supply curve. A) Vertical. B) Indeterminate. C) Leftward. D) Rightward. Show Answer Correct Answer: D) Rightward. 18. What is the main challenge of appropriating the value of innovation? A) Non-excludability. B) Lack of funding. C) Lack of passion. D) Non-rivalry. E) Lack of interest. Show Answer Correct Answer: A) Non-excludability. 19. What was the goal of the Progressive Movement A) To get better wages and working conditions for workers. B) To make sure the government progresses along. C) To make things better for company owners and rich people. D) None of above. Show Answer Correct Answer: A) To get better wages and working conditions for workers. 20. Investing in New Machinery A) Capital Goods. B) Human Capital. Show Answer Correct Answer: A) Capital Goods. 21. The RBA believes that by keeping inflation low and steady it can assist with: A) The achievement of low prices over the medium to long term. B) The achievement of slow and steady economic growth over the medium to long term. C) The achievement of full unemployment and slow and steady economic growth over the medium to long term. D) The achievement of full employment and high economic growth over the medium to long term. Show Answer Correct Answer: D) The achievement of full employment and high economic growth over the medium to long term. 22. Japan specializes in making cars, and China specializes in producing computers. Which capital good should each country invest in? A) Japan-car assembly machinesChina-digital monitor makers for computers. B) Japan-petroleum melting factories China-digital monitor makers for computers. C) Japan-car assembly machinesChina-tools for digging for coal. D) None of above. Show Answer Correct Answer: A) Japan-car assembly machinesChina-digital monitor makers for computers. 23. He moved the capital to Austin and was known as the Father of Education. A) Stephen F. Austin. B) Mirabeau Lamar. C) Sam Houston. D) Anson Jones. Show Answer Correct Answer: B) Mirabeau Lamar. 24. What is a limitation of using GDP per capita as a measure of economic growth? A) Exclusion of income inequality. B) Exclusion of income earned abroad. C) Exclusion of informal activity. D) Exclusion of environmental costs. Show Answer Correct Answer: B) Exclusion of income earned abroad. 25. Which of the following is not likely to increase aggregate demand for goods and services? A) An increase in government expenditure. B) An increase in imports. C) An increase in exports. D) A decrease in savings. Show Answer Correct Answer: B) An increase in imports. 26. What economic measurement helps to monitor the business cycle? A) Gross domestic product. B) Gross domestic policies. C) Guaranteed domestic policies. D) Guaranteed domestic product. Show Answer Correct Answer: A) Gross domestic product. 27. New inventions made communication and transportation ..... A) Faster. B) Slower. C) No effect. D) None of above. Show Answer Correct Answer: A) Faster. 28. The quaternary sector is a huge export for the uk, what does it consist of? A) Information and communication technologies. B) Mining and farming. C) Teaching or libraries. D) Nursing and programming. Show Answer Correct Answer: A) Information and communication technologies. 29. It refers to any educational activity which is not structured and takes place outside the formal system. A) Formal Education. B) Informal Education. C) Special Education. D) None of above. Show Answer Correct Answer: B) Informal Education. 30. Which indicator is most relevant to measuring sustainable economic growth? A) Corporate profit margins. B) GDP per capita growth. C) Carbon footprint reduction. D) Short-term stock market performance. Show Answer Correct Answer: C) Carbon footprint reduction. ← 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