This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 33 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 33 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is China's current unemployment rate? A) 5.4%. B) 4.9%. C) 3.5%. D) 2.1%. Show Answer Correct Answer: A) 5.4%. 2. A decrease in total demand can result in ..... ? A) No movement on the PPC. B) Movement from inside the PPC to the right. C) Movement from the right of PPC to the left. D) Movement from outside the PPC to inside. Show Answer Correct Answer: D) Movement from outside the PPC to inside. 3. Which of the following factors has contributed the MOST to raising average labor productivity historically? A) The political environment. B) Social capital. C) Technology. D) Human capital. E) Physical capital. Show Answer Correct Answer: C) Technology. 4. What was a popular method of stock market investment in the 1920s? A) Real estate investment. B) Index funds. C) Short selling. D) Buying on margin. Show Answer Correct Answer: D) Buying on margin. 5. What is the core-periphery model a part of? A) Rostow's stages of economic growth model. B) World system theory. C) Walt W. Rostow's research. D) None of the above. Show Answer Correct Answer: B) World system theory. 6. What does the income approach of measuring GDP include? A) Employee compensation, business profits, interest, appreciation, net indirect taxes. B) Employee compensation, business profits, interest, depreciation, net direct taxes. C) Employee compensation, business losses, interest, depreciation, net indirect taxes. D) Employee compensation, business profits, interest, depreciation, net indirect taxes. Show Answer Correct Answer: D) Employee compensation, business profits, interest, depreciation, net indirect taxes. 7. When economists talk about economic growth, the focus is on the A) Changes in general price level in the economy. B) Changes in rate of unemployment in the economy. C) Changes in level of output of goods and services in the economy. D) Changes in imports and exports of goods and services between economies. Show Answer Correct Answer: C) Changes in level of output of goods and services in the economy. 8. What is the target for economic growth A) As close to 2% as possible. B) As close to 2.5% as possible. C) 2% + or-1%. D) As close to 1.5% as possible. Show Answer Correct Answer: B) As close to 2.5% as possible. 9. Level 3A. Entrepreneurial heart frame allows the entrepreneur to see things in a very positive and optimistic light amid a crisis.B. Entrepreneurial gut game is the total involvement of the entrepreneur in the exciting game of business, demanding the keenest of intuitive abilities and the strongest intestinal fortitude. A) A is correct while B is incorrect. B) A is incorrect while B is correct. C) Both are correct. D) Both are incorrect. Show Answer Correct Answer: B) A is incorrect while B is correct. 10. Which one of these is a consequence of a recession? A) Decrease in income. B) Increase in Aggregate Supply. C) Increase in employment. D) Increase in inflation. Show Answer Correct Answer: A) Decrease in income. 11. What are some of the policies that governments can implement to promote economic growth? A) Cutting funding for education and infrastructure. B) Reducing taxes, investing in infrastructure, promoting innovation, and providing education and training. C) Increasing taxes and regulations. D) Limiting access to innovation and technology. Show Answer Correct Answer: B) Reducing taxes, investing in infrastructure, promoting innovation, and providing education and training. 12. A person who takes the risk and starts up a company is known as a ..... A) Human capitalist. B) Natural resource. C) Capital goods. D) Entrepreneur. Show Answer Correct Answer: D) Entrepreneur. 13. What Native American food source was devastated by settlers over population and over hunting them? A) Fish. B) Hogs. C) Buffalo. D) Deer. Show Answer Correct Answer: C) Buffalo. 14. According to the normal relationship, if Nation "X" decided to invest several billion dollars in education and training, which statement below best explains how its GDP would likely be affected? A) It would decrease. B) A It would increase. C) It would not change. D) It would depend on other factors. Show Answer Correct Answer: B) A It would increase. 15. Andrew goes to college to learn dentistry. A) Capital Goods. B) Entrepreneur. C) Human Capital. D) Natural Resources. Show Answer Correct Answer: C) Human Capital. 16. More income generating in the country is an aspect of Economic ..... A) Growth. B) Development. Show Answer Correct Answer: A) Growth. 17. A country can increase it's capital goods by investing in what? A) New machinery, technology, factories, etc. B) Land, forests, minerals, etc. C) Doctors, teachers, nurses, etc. D) Clothes, shoes, makeup, etc. Show Answer Correct Answer: A) New machinery, technology, factories, etc. 18. What are the main factors that can affect economic growth? A) Factors such as fashion trends, social media, and fast food. B) Factors such as weather, sports, and entertainment. C) Factors such as investment, technological progress, education, natural resources, and government policies can affect economic growth. D) Factors such as music, art, and literature. Show Answer Correct Answer: C) Factors such as investment, technological progress, education, natural resources, and government policies can affect economic growth. 19. Which of the following is NOT a macroeconomic objective? A) Stable Employment. B) Economic Growth. C) Stable Balance of Payments. D) Stable Inflation. Show Answer Correct Answer: A) Stable Employment. 20. Who were the "Bosses of the Senate" that are being referred to in this cartoon? A) Members of the Supreme Court. B) Elected congressmen. C) Voters. D) Wealthy industrialists. Show Answer Correct Answer: D) Wealthy industrialists. 21. According to the article, what measures can develop countries take to prepare for an aging population? (Select ALL that apply.) A) Reform pension system and raise retirement age. B) Increase female participation in the labour force. C) Nurture financial markets and provide long-term saving options. D) All of the above. Show Answer Correct Answer: D) All of the above. 22. Economic growth is defined as? A) The decrease in productive capacity of an economy. B) The increase of the prices of good within an economy. C) The inverse relationship between money and productive capacity. D) The increase in productive capacity of an economy. Show Answer Correct Answer: D) The increase in productive capacity of an economy. 23. Based on your knowledge of African economies, which countries correctly complete the table? A) . B) . C) . D) . Show Answer Correct Answer: A) . 24. The percent of a nation's population over the age of 15 who are able to read and write. A) Literate. B) Standard of living. C) Entrepreneur. D) Literacy rate. Show Answer Correct Answer: D) Literacy rate. 25. A government could help create economic growth by doing the following: A) Decreasing government spending. B) Decreasing the money supply. C) Increasing tax rates. D) Decreasing interest rates. Show Answer Correct Answer: D) Decreasing interest rates. 26. The act of assuming the risk of organizing productive resources to produce goods and services. A) Business. B) Entrepreneurship. C) Risk management. D) Critical thinking. Show Answer Correct Answer: B) Entrepreneurship. 27. The following list is describing which factor of production:education, health, and showing up ready to work? A) Natural resources. B) Human capital. C) Capital goods. D) Entrepreneur. Show Answer Correct Answer: B) Human capital. 28. Prohibiting the export of NICKEL mining materials is one of the efforts of President Jokowi's government to A) Stop all efforts to export raw materials. B) Improving community welfare and encouraging economic development. C) Maintaining Indonesia's position as the largest nickel producer. D) Strengthening the Indonesian economy in the oil and gas sector. Show Answer Correct Answer: A) Stop all efforts to export raw materials. 29. All of the economic inputs that are required to produce goods and services are called: A) Factors of production. B) Supply. C) Demand. D) Capital goods. Show Answer Correct Answer: A) Factors of production. 30. What can a bank provide for an Entrepreneur. A) Diamonds. B) Gold. C) Oil. D) Loan. Show Answer Correct Answer: D) Loan. ← 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