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Economic Growth Quiz 50 (25 MCQs)

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1. Refugees are people that are forced to leave their country in order to escape wars, persecution, or natural disaster?
2. Human resources are people and their various skills, talents and abilities.
3. Tungsten can carry electricity
4. A country investing in education.
5. What are freedom of religion, press and trial by jury known as?
6. Which productive resource can be a source of income when exported?
7. The number of years it takes for GDP to double is found by
8. "Population growth will reduce economic growth to a lower level because of the Law of diminishing returns." is the definition of economic growth by
9. Military bases were opened and expanded at Fort Jackson, Greenville, Charleston, and Myrtle Beach.
10. How much have house prices increased since 2009?
11. The United States GDP is about $58, 000, while the GDP of most African countries is less than $5, 000. What can you infer about the standard of living in most African countries compared with the U.S.?
12. What does physical capital refer to?
13. India's economy grew up by approximately 7% in 2016. What must have increased in India in 2016?
14. How is gross domestic product used to monitor the business cycle?
15. The goods used in the production process such as factories, machinery and equipment
16. Which of the following is NOT a way in which education can contribute to economic growth?
17. How is economic growth measured in a country?
18. Which of the following is a benefit of economic growth?
19. California admitted to the US as a free stateTexas gave up disputed land to US in return for 10 millionFugitive Slave Act passed The events above were part of the
20. The British were extremely strict on the trade relations of South Carolina with other colonies.
21. What best refers to the machines, equipment, and buildings that one uses to produce the product?
22. National Income can also be measured by adding up the total amount of outputs produced in an economy
23. Why does capital deepening work with human capital?
24. How does innovation affect economic growth?
25. Each individual person
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