Economic Growth Quiz 37 (25 MCQs)

Quiz Instructions:

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1. When it was originally settled, South Carolina was a "Proprietary Colony." What did this mean?

2. Investment in education and job training are investments in _____

3. An economy where economic decisions are made by individuals, and individuals and businesses own most of the businesses and farms

4. How does investment in infrastructure contribute to economic growth?

5. What is a positive output gap?

6. Nominal GDP is when

7. How can economic growth be measured?

8. Teddy Roosevelt was a _____ because he believed in helping the common man by preserving nature, busting trusts, supporting unions, etc.

9. As a verb, to gain financially; as a noun, the economic gains of a business

10. Economic growth can be best described as:

11. Economic Growth can bring improved standards of living

12. Why decent work is important for people?

13. Short run economic growth is measured by the percentage change in real GDP

14. National income is equivalent to GDP

15. What are some factors that can affect economic growth?

16. Nations that invest in the health, education, & training of their people will have a more valuable workforce that produces more goods & services.

17. What is one way a government can invest in human capital?

18. The Human Development Index (HDI) has 3 important criteria, which of these is NOT included?

19. Economic growth is the increase in:

20. A country investing in updating outdated factories

21. The first English permanent colony in South Carolina was Charles Town. Which statement is true about other areas in the New World?

22. Which of the following will happen if a country's government reduces business taxes?

23. Which one of the following is most likely to occur in the boom phase of an economic cycle?

24. How do entrepreneurs help a country's economy?

25. Which of the following system led to the establishment of large plantations, by granting large tracts of land to settlers?