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Economic Growth Quiz 46 (25 MCQs)

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1. Among the following determinants of growth, which one is a non-economic factor
2. What is sustainable economic growth?
3. What did Jim Hogg do with the monopoly of the Railroads?
4. Workers are seeking employment but cannot find employment because of widespread low economic activity. Which type of unemployment are these workers experiencing?
5. Economic Growth can reduce unemployment rates
6. What is a potential consequence of economic growth in terms of income distribution?
7. Potential economic growth can be represented by:
8. Why would the Saudi oil industry need a large investment in human capital?
9. Many factories in Russia cannot efficiently produce goods because they have old, outdated machinery. Based on this information, what would MOST improve the Russian industrial sector?
10. Why did railroad companies hire Chinese and Irish immigrants to construct the Transcontinental Railroad?
11. Which is the best description of literacy rate?
12. The total value of Australia's output (goods and services) over a period of time is Australia's GDP
13. What might a government increase if it wished to raise the growth rate of an economy?
14. In a command economic system the _____, makes all economic decisions.
15. Which is part of a country's human capital?
16. 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?
17. Which of the following is most likely to be an advantage of interventionist supply-side policies to increase economic development?
18. Money or time put into something with the goal of earning a futurebenefit
19. What is one reason why inventors may choose not to invest in R&D projects with good average returns?
20. The forces of supply and demand operate in the labor market as well as in the market for goods and services.
21. How do corporations benefit from having investors?
22. 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
23. Why was the production of oil in 1859 important and what was its most significant use?
24. What does a recession PPC illustrate?
25. What does the goal of strong and sustainable economic growth entail?
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