This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 32 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 32 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A range between the different economic systems A) Mixed Economy. B) Economic Continuum. C) Economic Growth. D) Economy. Show Answer Correct Answer: B) Economic Continuum. 2. A business that is owned at least partially by investors. A) Corporation. B) Capital. C) Stock. D) None of above. Show Answer Correct Answer: A) Corporation. 3. What is the most accurate indicator of a nation's economic development? A) GDP. B) Per capita income. C) GNP. D) HDI. Show Answer Correct Answer: B) Per capita income. 4. The total dollar value of the goods and services produced in one year. A) Gross Domestic Product. B) Literacy rate. C) Human capital. D) Natural resources. Show Answer Correct Answer: A) Gross Domestic Product. 5. The total value of all the goods and services produced in a country in one year is ..... ? A) GSP. B) GDP. C) GAP. D) GOP. Show Answer Correct Answer: B) GDP. 6. What sectors does the UK mainly export A) Tertiary and Primary. B) Quaternary and Secondary. C) Primary and Secondary. D) Quaternary and Tertiary. Show Answer Correct Answer: D) Quaternary and Tertiary. 7. Which statement best describes the relationship between a country's investment in capital goods and its gross domestic product (GDP)? A) Investments in capital goods typically lead to a decrease in GDP. B) A decrease in GDP typically leads to investments in capital goods. C) Investments in capital goods typically lead to an increase in GDP. D) None of above. Show Answer Correct Answer: C) Investments in capital goods typically lead to an increase in GDP. 8. How can capital goods help an economy? A) Capital investments provide workers with the best and newest tools that they use to develop new products. B) Capital investment provides better education. C) Capital investment does not help economies. D) None of above. Show Answer Correct Answer: A) Capital investments provide workers with the best and newest tools that they use to develop new products. 9. What is the relationship between globalization and economic growth? A) Indirect and negative. B) No relationship at all. C) Direct and positive. D) Complex and can vary. Show Answer Correct Answer: D) Complex and can vary. 10. Why would a government invest in human capital? A) To improve the skills of the labor force. B) To reduce competition between businesses. C) To improve the technology used by businesses. D) To reduce prices of goods demanded by consumers. Show Answer Correct Answer: A) To improve the skills of the labor force. 11. Should developed countries help poor, third world nations without expecting debt repayment? A) Yes, only if it benefits their political interests. B) No, it will lead to aid weariness. C) No, it will promote dependency on aid. D) Yes, it is their moral responsibility. Show Answer Correct Answer: D) Yes, it is their moral responsibility. 12. The word "meager" in the passage is closest in meaning to A) Primary. B) Very low. C) Traditional. D) Very necessary. Show Answer Correct Answer: B) Very low. 13. What is the trade cycle also known as? A) The growth cycle. B) The economic cycle. C) The recession cycle. D) The business cycle. Show Answer Correct Answer: D) The business cycle. 14. Which country in SE Asia has the highest literacy rate? A) China. B) Japan. C) India. D) North Korea. Show Answer Correct Answer: B) Japan. 15. Which of the following will likely raise the GDP of a country? A) Picking trade partners. B) Tariffs and banking. C) Imports and exports. D) Investing in new technology. Show Answer Correct Answer: D) Investing in new technology. 16. Which of the following is true for Net National Income? A) The Net National Income is the total of Gross National Product and Depreciation. B) The Net National Income is the difference between Gross National Product and Depreciation. C) The Net National Income is the difference between Gross Domestic Product and Depreciation. D) The Net National Income is the difference between Net Domestic Product and Depreciation. Show Answer Correct Answer: B) The Net National Income is the difference between Gross National Product and Depreciation. 17. What are some challenges faced by Bangladesh in becoming the richest country? A) Low population, advanced infrastructure, minimal corruption. B) Corruption, political instability, poverty, infrastructure development, and environmental issues. C) Abundance of natural resources, effective environmental policies, low poverty rate. D) High literacy rate, strong economy, stable government. Show Answer Correct Answer: B) Corruption, political instability, poverty, infrastructure development, and environmental issues. 18. ..... is a necessary but not sufficient condition of economic development. A) Economic Growth. B) Economic Development. Show Answer Correct Answer: A) Economic Growth. 19. Which goal was included in the presentation? A) Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment. B) By 2020, substantially reduce the proportion of youth not in employment, education or training. C) Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors. D) Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all. Show Answer Correct Answer: C) Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors. 20. Why did settlers of the Backcountry feel the government was treating them unfairly? A) They were being taxed three times more than the people of the Lowcountry. B) They had less representation in the Assembly than the Lowcountry even though they had a larger population. C) Their farms were being destroyed and burned by representatives of the assembly. D) They were forbidden from traveling. Show Answer Correct Answer: B) They had less representation in the Assembly than the Lowcountry even though they had a larger population. 21. Begins to participate in international trade, such as the exporting of agriculture and raw materials. A) Stage 5:High Mass Consumption. B) Stage 1:Traditional Society. C) Stage 2:Pre-Condition for Take-Off. D) Stage 4:Drive to Maturity. E) Stage 3:Take-Off. Show Answer Correct Answer: C) Stage 2:Pre-Condition for Take-Off. 22. What was the impact of increased production efficiencies on consumer demand? A) Decreased consumer demand. B) Had no effect on consumer demand. C) Increased consumer demand. D) Shifted consumer demand to foreign markets. Show Answer Correct Answer: C) Increased consumer demand. 23. Actual economic growth can be represented by: A) Inward shift of PPF. B) Movement of a point on PPF towards a point inside. C) Outward shift of PPF. D) Movement of a point inside towards a point on PPF. Show Answer Correct Answer: D) Movement of a point inside towards a point on PPF. 24. Which of following statement is true about the Economic Growth A) It refers to increase in Gross Domestic Product (GDP). B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). C) It is characterized by fall in unemployment rate. D) Rise in GDP on monetary term. Show Answer Correct Answer: B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). 25. Research / observation / investigation means ..... A) Evidence. B) Security. C) Study. D) Accompany. Show Answer Correct Answer: C) Study. 26. What is the best way to measure economic growth? A) Gross Domestic Product. B) Gross national product. C) Inflation. D) Monetary policy. Show Answer Correct Answer: A) Gross Domestic Product. 27. Cold War is when Russia and United States help one another because they were both powerful countries. A) True. B) False. Show Answer Correct Answer: B) False. 28. Potential economic growth is caused by an increase in consumption and net exports. A) True. B) False. Show Answer Correct Answer: B) False. 29. Which one is the correct formula to calculate labor force participation rate? A) (Employed Population / Labor Force) x 100. B) (Labor Force / Working Age Population) x 100. C) (Labor Force / Total Population) x 100. D) (Unemployment Rate / Labor Force) x 100. Show Answer Correct Answer: B) (Labor Force / Working Age Population) x 100. 30. Which of the following represents the term for "a product of the earth that people use to meet their needs" A) Human capital. B) Capital goods. C) Entrepreneurship. D) Natural resource. Show Answer Correct Answer: D) Natural resource. ← 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