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Economic Growth Quiz 47 (25 MCQs)

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1. Which of the following best defines an economy at equilibrium?
2. What happens to your money in the bank?
3. All of the following make up the human development index EXCEPT
4. During the pandemic, Government closes schools for the month of March, will cause _____
5. What is likely to be a disadvantage of economic growth?
6. If exports from New Zealand increased, what would most likely happen to Real Output GDP and price level? Real GDP / Price Level
7. Money is a capital good, but NOT a medium of exchange!
8. 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?
9. In which year was Akbar died?
10. "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?
11. Which of the following is NOT a factor that economists consider when measuring economic growth?
12. Cambridge North Station was opened in 2017 to improve access to where?
13. When is an economy in a recession?
14. What does "full employment" mean?
15. Which city has an altered view of GDP per capita?
16. What is the main reason for Mumbai's economic growth?
17. A measure of wealth, basic needs and material comfort a person has access to
18. An example of a semi-skilled worker is:
19. An economy where the government makes the basic economic decisions
20. Infrastructure is the basic physical and organizational structures and facilities such as building.
21. GDP at market prices that is not adjusted for inflation is called
22. Literacy rates in Cuba are among the highest in the world, but standard of living is very poor. Why?
23. The federal government can pursue economic policies such as spending or taxation to stimulate an economy that is contracting or to cool one that is expanding too rapidly. When the government acts to influence the economy in these ways, what is its goal?
24. Natural rate of unemployment includes structural unemployment and_____
25. Supply Side Policy is
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