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Economic Growth Quiz 41 (25 MCQs)

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1. Economic Growth and Economic Development are the same thing
2. What is the term for the ability to capture some share of the social value of an innovation?
3. What is the importance of early childhood development in promoting inclusive growth?
4. When workers have the best tools, they can:
5. In Country A, the government has offered incentives to companies that invest in continuing education and training for their employees. What factor of economic growth is the country working to improve?
6. Measures how well off a people are in a country.
7. What is another name for oil?
8. Implies an increase in the capacity of the economy to produce more goods and services.
9. Investment in human capital is important because
10. Why is using real GDP as a measure of economic growth important?
11. What allows the production of more goods and services in less time, leading to greater economic growth?
12. Which country among the BRIC countries has shown the least stable economic growth?
13. Credited with the severe pollution of waterways and atmosphere in many mid-western cities.
14. Economic growth may provide
15. Productive potential of a country can be increased by raising the quantity or quality of the factors of production
16. At which stage of the economic cycle would you expect to see consumer spending start to increase once again?
17. Which diagram best fits the following change:firms improve on how they manufacture and lower their costs of production
18. Which one of the following types of unemployment is best defined as 'unemployment for short lengths of time between jobs'?
19. The only government policy with an immediate effect on the AD curve is
20. What is considered a normal unemployment rate?
21. Raw materials from nature-land, time, trees, grass, sunlight, minerals, car, bus, water/pond, cotton
22. If nominal GDP is $100 in 2019 and nominal GDP is $200 in 2020, how much did the economy grow by?
23. Between 2014 and 2015 the Polish economy expanded at a rate of 3.3%.What necessarily follows from this statement?
24. A nation with a high GDP typically does not invest in capital, while a nation with a low GDP doesinvest in human capital.
25. Steve Jobs created the technology company Apple, Inc. Which is an example of which economic growth aspect?
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