This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 37 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 37 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. High consumer expenditure happens in a A) Boom. B) Trough. C) Recovery. D) Recession. Show Answer Correct Answer: A) Boom. 2. Purchasing power parity (PPP) compares economic growth and standards of living in different countries with a common currency/basket of goods approach. A) True. B) False. Show Answer Correct Answer: A) True. 3. GI Bill benefits were used by veterans to pursue an education. A) True. B) False. Show Answer Correct Answer: A) True. 4. True or False-a radioactive element is safe for human beings to handle. A) False. B) True. Show Answer Correct Answer: A) False. 5. Tariffs was one cause of the Civil War. Why did the Southern states not like these taxes? A) They were fine with them. B) Because it would increase the price of goods brought into the South. C) Because they would cause a decrease in supplies in the South. D) Because it would cause an increase in population. Show Answer Correct Answer: B) Because it would increase the price of goods brought into the South. 6. Which of the following BEST explains the need for a monetary exchange system to in Southwest Asia? A) Each nation in the region uses its own form currency. B) Most nations in the region do not engage in international trade. C) Most nations in the region rely on natural resources. D) Each nation in the region specializes in a different industry. Show Answer Correct Answer: A) Each nation in the region uses its own form currency. 7. A country investing in skills A) Capital Goods. B) Human Capital. Show Answer Correct Answer: B) Human Capital. 8. Which method of measuring GDP involves adding up the amount of spending by purchasers of final goods? A) Output method. B) AD method. C) Expenditure method. D) Income method. Show Answer Correct Answer: C) Expenditure method. 9. Which of these examples would describe growth due to a better economic environment? A) Harvard College was founded in 1636 and is still open to this day. B) German inventor Johannes Gutenberg invented the printing press. C) The U.S funded the building of the Panama Canal, completed in 1914. D) NAFTA was created to promote trade among the North American countries. Show Answer Correct Answer: D) NAFTA was created to promote trade among the North American countries. 10. Economic growth is important because with positive economic growth we can expect ..... A) Lower unemployment rates as more workers are needed in production. B) Lower income received by households in the economy. C) Lower tax revenues for government spending. D) All of the above. Show Answer Correct Answer: A) Lower unemployment rates as more workers are needed in production. 11. More efficient production methods would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: B) Productive capacity. 12. Which of the following is a withdrawal from the circular flow of income? A) Investment. B) Government Spending. C) Savings. D) Exports. Show Answer Correct Answer: C) Savings. 13. The factories, machinery, technology, etc. that are necessary to sustain a service or industry A) Human Capital. B) Natural Resource. C) Capital Goods. D) Literate. Show Answer Correct Answer: C) Capital Goods. 14. Quality education in the country is an aspect of Economic ..... A) Development. B) Growth. Show Answer Correct Answer: A) Development. 15. Indonesia having the largest GDP in Southeast Asia means that it has the highest standard of living among countries. A) FALSE. B) TRUE. Show Answer Correct Answer: A) FALSE. 16. Economic Development is ..... A) Qualitative. B) Quantitative. Show Answer Correct Answer: A) Qualitative. 17. The colonists believed all were advantages to a Royal government EXCEPT: A) The King is impartial, which makes him a fair ruler. B) The English military can offer protection for the settlers. C) England can tax the colonists as it sees fit. D) England is the most powerful Empire on Earth. Show Answer Correct Answer: C) England can tax the colonists as it sees fit. 18. What is the main goal of structural adjustment programs in developing countries? A) To promote import substitution. B) To increase government intervention. C) To promote economic liberalization. D) To reduce foreign aid. Show Answer Correct Answer: C) To promote economic liberalization. 19. To promote ..... and sustainable economic growth, ..... and decent ..... for all. A) Inclusive, employment, work. B) Inclusive, work, decent. C) Growth, economic, percent. D) Work, economic, oportunities. Show Answer Correct Answer: A) Inclusive, employment, work. 20. What is the goal of inclusive growth policies? A) To promote economic stability. B) To increase income inequality. C) To create a more balanced society. D) To ensure economic advancements benefit everyone. Show Answer Correct Answer: D) To ensure economic advancements benefit everyone. 21. Why would the "services" sector of the economy likely be doing poorly right now? A) The virus has people staying home. B) People are eating out more. C) People would rather go out shopping than buy online. D) None of above. Show Answer Correct Answer: A) The virus has people staying home. 22. People who provide the money to start and operate a business are called what? A) Politicians. B) Presidents. C) Leaders. D) Entrepreneurs. Show Answer Correct Answer: D) Entrepreneurs. 23. At the end of the 1990s and start of the 2000s, Ireland experience a BOOM-what is this boom referred to as? A) The Celtic Tiger. B) The Celtic Lion. C) The Big Irish Boom. D) The Celtic Boom. Show Answer Correct Answer: A) The Celtic Tiger. 24. Economic Growth can reduce tax revenues for the government A) True. B) False. Show Answer Correct Answer: B) False. 25. What is the ratio of people without a job in the world? A) 1 of 6 people. B) 14 per cent. C) 400 million people. D) Just a bunch. Show Answer Correct Answer: A) 1 of 6 people. 26. What is meant by economic growth? A) A decrease in the budget deficit. B) An increase in population. C) An increase in real GDP. D) An increase in budget surplus. Show Answer Correct Answer: C) An increase in real GDP. 27. ..... are the man-made materials that are needed to produce goods and services A) Human capital. B) Capital goods. C) Natural Resources. D) Gross Domestic Goods. Show Answer Correct Answer: B) Capital goods. 28. What is the World Bank's view on inclusive growth? A) It supports income inequality. B) It focuses on reducing access to education. C) It promotes equitable distribution of benefits. D) It benefits individuals but not nations. Show Answer Correct Answer: C) It promotes equitable distribution of benefits. 29. What is the total value of all the goods andservices produced in that country in oneyear? A) Economic Growth. B) Traditional Economy. C) Economy. D) GDP. Show Answer Correct Answer: D) GDP. 30. ..... was a muckraker that exposed the horrors of the meat packing industry. A) Wells. B) Sinclair. C) Tarbell. D) Nast. Show Answer Correct Answer: B) Sinclair. ← 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