This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 36 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 36 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which Best describes income? A) Credit offered on the basis of a person's salary. B) Money you earn working or get from investing. C) Taxes paid to the government based on annual salary. D) Money borrowed from a credit union. Show Answer Correct Answer: B) Money you earn working or get from investing. 2. A government could improve ..... and training as part of supply-side policies. A) Education. B) Police. C) Health. D) Army. Show Answer Correct Answer: A) Education. 3. Small portion of ownership in a company purchased by an investor. A) Stock. B) Dividend. C) Capital. D) None of above. Show Answer Correct Answer: A) Stock. 4. Syria has not built new factories or used new technology in many years. What is the country NOT investing in? A) Human capital. B) Capital Goods. C) Natural resources. D) Entrepreneurship. Show Answer Correct Answer: B) Capital Goods. 5. What do you call a person who takes risks by starting a new business? A) An entrepreneur. B) A dictator. C) An economist. D) An international trader. Show Answer Correct Answer: A) An entrepreneur. 6. True or False? Entrepreneurs create jobs for the population. A) False. B) True. Show Answer Correct Answer: B) True. 7. The Economy depends on the people because they are the ones who spend most of the ..... A) Time. B) Profits. C) Money. D) Taxes. Show Answer Correct Answer: C) Money. 8. The capital-output ratio in a country during the different phases of growth A) Fluctuates widely. B) Remains unchanged. C) Shows a secular declining trend. D) Changes within narrow limits. Show Answer Correct Answer: D) Changes within narrow limits. 9. Which country does not provide enough money for education? A) Niger. B) Nigeria. C) South Africa. D) Botswana. Show Answer Correct Answer: B) Nigeria. 10. Which of the following changes is most likely to shift the AD curve to the right? A) A depreciation of the exchange rate. B) A decrease in government spending. C) A rise in interest rates. D) A period of consumer price deflation. Show Answer Correct Answer: A) A depreciation of the exchange rate. 11. ..... on the other hand comprises of improvement in the quality of life with the increase in the real output. Economic measures include HDI, IHDI, CPI, GDP-PC, etc. A) Economic Growth. B) Economic Development. Show Answer Correct Answer: B) Economic Development. 12. The knowledge and skills possessed by people that places value on them in the job market is ..... A) GDP. B) Trade. C) Human capital. D) Capital goods. Show Answer Correct Answer: C) Human capital. 13. Economic growth is measured by A) Changes in GDP from one period to another. B) GDP. C) GDP from one period to another. D) None of above. Show Answer Correct Answer: A) Changes in GDP from one period to another. 14. ..... was a leader in the steel industry. A) Rockefeller. B) Walker. C) Carnegie. D) Morgan. E) Vanderbilt. Show Answer Correct Answer: C) Carnegie. 15. What factors can cause economic growth? A) Decrease in education quality. B) Decrease in the labour force. C) Improved technology. D) Decrease in investment. Show Answer Correct Answer: C) Improved technology. 16. What did increased production efficiencies lead to in the 1920s? A) Economic growth and prosperity. B) Economic stagnation. C) Rising unemployment rates. D) Decreased consumer spending. Show Answer Correct Answer: A) Economic growth and prosperity. 17. One of the key aims of the Australian government is to ensure that as the population expands, sufficient goods and services are available to satisfy needs and wants and new jobs are created for those who enter the workforce. A) True. B) False. Show Answer Correct Answer: A) True. 18. What is the ultimate effect of capital deepening? A) Increased wages from demand for workers. B) Increased Demand for machines. C) Increased factors of production. D) Stable GDP per capita. Show Answer Correct Answer: A) Increased wages from demand for workers. 19. How do we measure economic growth and development? A) Measuring economic growth based on the number of tourists visiting a country. B) Using indicators such as GDP, GNI, HDI, and other economic and social indicators. C) By counting the number of new businesses opened in a year. D) Using indicators such as happiness index and unemployment rate. Show Answer Correct Answer: B) Using indicators such as GDP, GNI, HDI, and other economic and social indicators. 20. What role did railroads have in Texas? A) Railroads brought a small population to Texas. B) The railroads made it hard to transport goods to other places. C) The railroads helped boost Texas economy by transporting goods to different places in the country. D) The railroads were made to transport people only. Show Answer Correct Answer: C) The railroads helped boost Texas economy by transporting goods to different places in the country. 21. This reflects the value of goods and services produced in a year in a nation by an average person. A) G.D.P. B) G.D.P. per product. C) G.D.P. per capita. D) G.D.P. per person. Show Answer Correct Answer: C) G.D.P. per capita. 22. Which economic policies were implemented during the 1920s? A) Raising protective tariffs and reducing taxes. B) Increasing government regulations and taxes. C) Implementing socialist economic policies. D) Promoting international trade agreements. Show Answer Correct Answer: A) Raising protective tariffs and reducing taxes. 23. Which of the following policies is a supply-sided policy and can be used for economic growth A) Increased government spending. B) Increased education and training for workers. C) Increased exports. D) Decreased rates of interest . Show Answer Correct Answer: B) Increased education and training for workers. 24. If GDP is £300 billion and the population is 30 million. What is GDP per capita? A) £270 billion. B) £100, 000. C) £10, 000. D) £1, 000. Show Answer Correct Answer: C) £10, 000. 25. Marta graduated from the School of Culinary Arts in New York City. Marta wants to return to Cuba and open a bakery in her home town. Marta's brother, Federico, has started two new businesses in Cuba. He tells Marta that she should think hard about the business before she invests and risks her money in a bakery.What would Marta be MOST concerned with as an entrepreneur? A) Is she a really good baker?. B) What type of baked goods would Cubans like?. C) Will the bakery make a profit in her home town?. D) Will she have access to quality baking ingredients?. Show Answer Correct Answer: C) Will the bakery make a profit in her home town?. 26. How do economists measure the health of a country's economy? A) Gross Domestic product (GDP). B) Stocks. C) Standard of living. D) Education available?. Show Answer Correct Answer: A) Gross Domestic product (GDP). 27. The Governor veto's a bill by the State Legislature. The State Legislature can override a veto by the Governor. Which principle does this cover? A) Popular sovereignty. B) Republicanism. C) Checks and Balances. D) Federalism. Show Answer Correct Answer: C) Checks and Balances. 28. During World War II, many state's citizens, white and African Americans joined the military. A) True. B) False. Show Answer Correct Answer: A) True. 29. What is the relationship between education and economic development? A) Education is unrelated to economic development. B) Education promotes economic development. C) Education has no impact on economic development. D) Education hinders economic development. Show Answer Correct Answer: B) Education promotes economic development. 30. AD curve shift to right to show potential economic growth A) True. B) False. Show Answer Correct Answer: B) False. ← 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