This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 41 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 41 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What does an increase in real GDP over time indicate? A) Economic decline. B) Economic stagnation. C) Economic growth. D) None of the above. Show Answer Correct Answer: C) Economic growth. 2. Aggregate employment and aggregate output are ..... related because firms need to employ more workers in order to produce more output, holding other factors constant. This is captured by the ..... A) Indirectly, phillips curve. B) Directly, aggregate production function. Show Answer Correct Answer: B) Directly, aggregate production function. 3. Your friend and you decide to open a snow cone stand. The stand and the snow cone machine are examples of which factor of production? A) Entrepreneurship. B) Capital Resources/Goods. C) Human Capital. D) Natural Resources. Show Answer Correct Answer: B) Capital Resources/Goods. 4. Economic growth always improve one's living standard. A) False. B) True. Show Answer Correct Answer: A) False. 5. The total value of the final goods and services produced within a country in one year. A) GDP per capita. B) GDP. C) Capital goods. D) None of these. Show Answer Correct Answer: B) GDP. 6. In order of the GDP which country is the lowest A) Haiti. B) Cuba. C) Mexico. D) Brazil. Show Answer Correct Answer: A) Haiti. 7. How can changes in technology or consumer demand affect the unemployment rate? A) By making it difficult for people to buy what they want. B) By changing the number or kinds of jobs available. C) By creating a demand for things that are not available. D) By making it possible for some people to work fewer hours. Show Answer Correct Answer: B) By changing the number or kinds of jobs available. 8. Why is Economic Growth important to countries? A) A country is better off if it can use it's own resources to supply the needs of it's people. B) A country can export around the world. C) A country can get out of debt. D) A country can buy expensive imports. Show Answer Correct Answer: A) A country is better off if it can use it's own resources to supply the needs of it's people. 9. Texas Revolution ..... Texas Gains Independence ..... ? Which event best fits? A) Texans fight in the Battle of Gonzales. B) Texas is annexed by the US. C) US gain their independence from England. D) Mexico gains independence from Spain. Show Answer Correct Answer: B) Texas is annexed by the US. 10. Economic growth involves A) Structural changes. B) Increases in per capita income. C) Increases in per capita production. D) All of the above. Show Answer Correct Answer: D) All of the above. 11. When economic growth is taking place, more and more oil and other valuable minerals are being used up. this worries some people because these resources are ..... A) Per head. B) Leisure. C) Net investment. D) Mobility. E) Non replaceable. Show Answer Correct Answer: E) Non replaceable. 12. The continual increase in average prices A) Per capita. B) Inflation. C) Import. D) None of above. Show Answer Correct Answer: B) Inflation. 13. Which of the following policies is a supply-side policy and can be used for economic growth A) Increased government spending. B) Increased education and training for workers. C) Increased money supply. D) Decreased rates of interest. Show Answer Correct Answer: B) Increased education and training for workers. 14. Entrepreneurship encourages people to take risks, and in doing so, they've created better healthcare, education, & welfare programs. A) I agree. B) I disagree. Show Answer Correct Answer: A) I agree. 15. In the long run, the aggregate supply curve at full employment is: A) Perfectly Inelastic. B) Perfectly Elastic. C) Downward sloping. D) Horizontal. Show Answer Correct Answer: A) Perfectly Inelastic. 16. Public finance concentrates on how: A) To destabilize the economy. B) Resources are dislocated. C) Income is distributed. D) To raise income evenly. Show Answer Correct Answer: C) Income is distributed. 17. Which of the following can be an external pressure resulting from not achieving strong and sustainable economic growth? A) Reduced government spending. B) Increased investment in renewable energy. C) Reduction in international competitiveness. D) Lower demand for consumer goods. Show Answer Correct Answer: C) Reduction in international competitiveness. 18. What are resources that occur naturally in the environment and are used to produce goods and services called? A) Human resources. B) Natural resources. C) Entrepreneurship. D) Capital resources. Show Answer Correct Answer: B) Natural resources. 19. What is the purpose of national income statistics for a government? A) To evaluate economic performance. B) To forecast expected growth. C) To compare the performance of an economy with others. D) To measure living standards. Show Answer Correct Answer: A) To evaluate economic performance. 20. What did Warren Harding's economic policy aim to return to? A) Socialist economic system. B) Pro-business, laissez-faire policies. C) Mixed economy. D) Communist economic system. Show Answer Correct Answer: B) Pro-business, laissez-faire policies. 21. How did supporters of segregation limit the rights of African Americans? A) Created Jim Crow laws and black codes. B) Passed the 14th Amendment. C) Developed he Freedmen's Bureau. D) Gave suffrage to African-American men. Show Answer Correct Answer: A) Created Jim Crow laws and black codes. 22. Materials and labor used to create goods and services. A) Productive resources. B) Entrepreneurship. C) Human capital. D) Production. Show Answer Correct Answer: A) Productive resources. 23. Outdoor recreation A) Economic growth. B) Climate emergencies. C) Farming policy. D) Outdoor recreation. Show Answer Correct Answer: D) Outdoor recreation. 24. The countries that are located in southeastern Europe along the Balkan Peninsula A) Literacy. B) Literacy rate. C) Standard of living. D) Balkans. Show Answer Correct Answer: D) Balkans. 25. Which of the following factors can contribute to environmental degradation as a result of unsustainable economic growth? A) High investment in public transportation systems. B) Strict environmental regulations. C) A focus on renewable energy sources. D) Overexploitation of natural resources. Show Answer Correct Answer: D) Overexploitation of natural resources. 26. Refugees are people that are forced to leave their country in order to escape wars, persecution, or natural disaster? A) True. B) False. Show Answer Correct Answer: A) True. 27. Human resources are people and their various skills, talents and abilities. A) True. B) False. Show Answer Correct Answer: A) True. 28. Tungsten can carry electricity A) False. B) True. Show Answer Correct Answer: B) True. 29. A country investing in education. A) Human capital. B) Capital goods. Show Answer Correct Answer: A) Human capital. 30. What are freedom of religion, press and trial by jury known as? A) Rules/Laws. B) Rights of Citizens. C) Civic Responsibilities. D) Checks and Balances. Show Answer Correct Answer: B) Rights of Citizens. ← 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