This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 48 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 48 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Poor decisions made about how to organize farming in North Korea have resulted in many years of: A) Drought. B) Arguments about what crops to grow. C) Starvation. D) Farmers refusing to work. Show Answer Correct Answer: C) Starvation. 2. What is one consequence of a recession? A) Increased unemployment. B) Increased income. C) Increased asset prices. D) None of the above. Show Answer Correct Answer: A) Increased unemployment. 3. The process of improving the quality of all human lives and capabilities by raising people's levels of living, self-esteem and freedom. A) Development. B) Upliftment. C) Increase economy. D) Standard of living. Show Answer Correct Answer: A) Development. 4. Which of the following factors will not shift the AD curve right? A) Increase in consumer confidence. B) Increased exports. C) Increased investment. D) Increase in the cost of labour. Show Answer Correct Answer: D) Increase in the cost of labour. 5. An advance in technology will cause: A) LRAS to shift to the left. B) AD to shift to the left. C) AS to to shift to the left. D) LRAS to shift to the right. E) AD to shift to the right. Show Answer Correct Answer: D) LRAS to shift to the right. 6. What mostly drives UK economic growth A) Pride. B) Equality. C) Wheels. D) Incentives. Show Answer Correct Answer: D) Incentives. 7. What is the Gini Coefficient of Cambridge? A) 74. B) 0.56. C) J. D) 0.46. Show Answer Correct Answer: D) 0.46. 8. According to the article, what is the easiest way for countries to extend the effects of a "working-age bulge" and boost their demographic dividend? A) Increase retirement ages. B) Promote internal migration. C) Implement policies that encourage immigration. D) Invest in infrastructure. Show Answer Correct Answer: C) Implement policies that encourage immigration. 9. In the UK, the economic growth rate for the third quarter of 2019 was-0.2%. Economic growth occurs when there is an increase in A) The inflation rate. B) Wage rates. C) The economy's productive potential capacity. D) None of above. Show Answer Correct Answer: C) The economy's productive potential capacity. 10. Which countries have the highest unenployment rates? A) Portugal. B) Spain. C) Romania. D) Greece. Show Answer Correct Answer: D) Greece. 11. This political ideology focuses on using the power of the democratically elected government to protect the interests of the poorest citizens, limit the negative side effects of capitalism, and redistribute wealth. A) Democratic socialism. B) Federal system. C) Land reform. D) Welfare state. Show Answer Correct Answer: A) Democratic socialism. 12. The Australian economy has experienced ..... in 2020 A) A boom. B) A recession. C) An expansion. D) A bust. Show Answer Correct Answer: B) A recession. 13. Updating Factories A) Human Capital. B) Capital Goods. Show Answer Correct Answer: B) Capital Goods. 14. Which SE Asian country does not follow the regular theory that a high literacy rate usually equals a high standard of living? A) North Korea. B) South Korea. C) India. D) China. Show Answer Correct Answer: A) North Korea. 15. Structural unemployment is A) AN unemployment where people are only required at certain periods of the year as that is when demand is high. B) The unemployment which exists in any economy due to people being in the process of moving from one job to another. C) Is a factor of overall unemployment that relates to the regular ups and downs in growth and production,. D) Unemployment resulting from an Industry shift, typically due to a technological change, rather than changes in supply or demand. Show Answer Correct Answer: D) Unemployment resulting from an Industry shift, typically due to a technological change, rather than changes in supply or demand. 16. Economists measure economic growth primarily using: A) Gross National Product (GNP). B) Unemployment rate. C) Inflation rate. D) Gross Domestic Product (GDP). Show Answer Correct Answer: D) Gross Domestic Product (GDP). 17. Define actual growth A) In PPC model, refer to growth that occurs due to the reduction of unemployment or improvement in efficiency of resource use, resulting in movement from inside PPC to point closer to PPC. B) In PPC model, refers to growth that occurs due to increase in quantity or quality of resources, resulting in shift to the right of PPC curve, also referred to as long-term growth. Show Answer Correct Answer: A) In PPC model, refer to growth that occurs due to the reduction of unemployment or improvement in efficiency of resource use, resulting in movement from inside PPC to point closer to PPC. 18. How does the Clerk of Superior Court help to govern a city? A) Principal Record Keeper. B) Weather Reporter. C) Governor. D) All of the above?. Show Answer Correct Answer: A) Principal Record Keeper. 19. What percentage of the total world population do the BRIC countries have? A) More than 60%. B) Less than 10%. C) Around 20%. D) Around 40%. Show Answer Correct Answer: D) Around 40%. 20. What is the relationship between investment in human capital and GDP? A) GDP decreases. B) GDP fluctuates. C) GDP remains the same. D) GDP increases. Show Answer Correct Answer: D) GDP increases. 21. What does it mean to have a decent job? A) Earning a lot of money. B) Have a job that originates a living wage protects rights and guarantees gender equality. C) None answer is correct. D) All answers are correct. Show Answer Correct Answer: B) Have a job that originates a living wage protects rights and guarantees gender equality. 22. The level of private investment spending (I) and rate of economic growth would tend to increase if there was a: A) Rise in business confidence about future sales. B) Rise in interest rates on bank loans to businesses. C) Fall in business profits. D) Rise in the rate of company tax on firms. Show Answer Correct Answer: A) Rise in business confidence about future sales. 23. When there is an influx foreign talent/workers, there will be a/an: A) Increase in labour demand. B) Decrease in labour demand. C) Increase in labour supply. D) Decrease in labour supply. Show Answer Correct Answer: C) Increase in labour supply. 24. What is one method used to stop competitors from stealing an idea? A) Collaboration. B) Coded messages. C) Competition. D) Secrecy. E) Government intervention. Show Answer Correct Answer: D) Secrecy. 25. A high employment rate happens in the phase of A) Boom. B) Recession. C) Expansion. D) Bust. Show Answer Correct Answer: A) Boom. 26. According to the article, why was China's economic growth growth slower than predicted? A) China's economy is just performing badly. B) The international economic impact of the virus is still uncertain. C) Nobody knows. D) None of above. Show Answer Correct Answer: B) The international economic impact of the virus is still uncertain. 27. Long run economic growth is the result of supply side factors that increase the productive potential of the economy A) Yes, I understand this from the notes. B) No, I don't understand this from the notes. C) No, I don't understand this, as I have not read the notes. D) None of above. Show Answer Correct Answer: A) Yes, I understand this from the notes. 28. The "Fire" Nation's GDP in 2018 was £2, 380, 250. If in 2018, the population of the Fire Nation was 65, 536, what is the GDP per Capita of the Fire Nation? A) £32.63 / per capita. B) £32.32 / per capita. C) £36.32 / per capita. D) £33.62 / per capita. E) £36.23 / per capita. Show Answer Correct Answer: C) £36.32 / per capita. 29. The reaper, steel plow, windmill and barbed wire all helped in ..... A) The driving of cattle. B) The oil business. C) The cotton industry. D) Farming in Texas. Show Answer Correct Answer: D) Farming in Texas. 30. Would the following be included or not included in GDP? Ford has 15, 000 2016 Explores that were not sold by December 31st 2017. A) Included. B) Not included. Show Answer Correct Answer: A) Included. ← 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