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Economic Growth Quiz 39 (30 MCQs)

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1. Which is part of a country's human capital?
2. In 1979 in the UK the marginal rate of income tax imposed on the highest earners was 83% which increased to 98% if income was received from interest or dividends. By 1989 the highest marginal rate was reduced to 40%. Despite this reduction, the tax revenue raised from the highest earners increased substantially. Which theoretical concept illustrates this relationship between tax rates and tax revenue?
3. Which of the following is most likely to be an advantage of interventionist supply-side policies to increase economic development?
4. Money or time put into something with the goal of earning a futurebenefit
5. What is one reason why inventors may choose not to invest in R&D projects with good average returns?
6. The forces of supply and demand operate in the labor market as well as in the market for goods and services.
7. How do corporations benefit from having investors?
8. Between 2010 and 2018, Romania has seen a rise in its labour productivity of 46%. Other factors remaining equal, a rise in labour productivity is likely to cause
9. Why was the production of oil in 1859 important and what was its most significant use?
10. What does a recession PPC illustrate?
11. What does the goal of strong and sustainable economic growth entail?
12. Which of the following best defines an economy at equilibrium?
13. What happens to your money in the bank?
14. All of the following make up the human development index EXCEPT
15. During the pandemic, Government closes schools for the month of March, will cause .....
16. What is likely to be a disadvantage of economic growth?
17. If exports from New Zealand increased, what would most likely happen to Real Output GDP and price level? Real GDP / Price Level
18. Money is a capital good, but NOT a medium of exchange!
19. The Gross Domestic Product (GDP) of Hong Kong rose more slowly than the rest of South East Asia between 1997 and 2002.What is the most likely reason?
20. In which year was Akbar died?
21. "As Leeserville stands at the brink of a new millennium, entrepreneurship has been recognized as an important part of economic advancement. Foreign businessmen have created a new pool of capital resources for Leeserville's talent that previously had few monetary options beyond their family and friends." -Debbie Jenkins, Author According to the passage above, which statement below describes the role of entrepreneurship in Leeserville in the future?
22. Which of the following is NOT a factor that economists consider when measuring economic growth?
23. Cambridge North Station was opened in 2017 to improve access to where?
24. When is an economy in a recession?
25. What does "full employment" mean?
26. Which city has an altered view of GDP per capita?
27. What is the main reason for Mumbai's economic growth?
28. A measure of wealth, basic needs and material comfort a person has access to
29. An example of a semi-skilled worker is:
30. An economy where the government makes the basic economic decisions
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