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Economic Growth Quiz 51 (25 MCQs)

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1. Factories, machinery, and technology
2. What does infrastructure mean?
3. What present day states were added by the Treaty of Guadalupe-Hidalgo?
4. Short-run growth is aggregate demand shifting to the right. However, it can be aggregate supply shifting to the right if a new equilibrium is created
5. Which answer choice below describes a KEY difference between "capital goods" and "human capital" ?
6. Which of the following is not included in the calculation of Australia's Gross Domestic Product [GDP]?
7. How much land did the Homestead Act give those that moved out to the Great Plains?
8. You can only acquire education in a school.
9. Illustrate a negative output gap and positive output gap on a production possibility frontier
10. How has the Internet helped to improve the economies of many Latin American nations?
11. Two problems entrepreneurs face include:
12. The higher a country's GDP, the better standard of living for the people within the country.
13. Chief of the last Comanche band to resist the U.S. Army in Texas, then later would lead the American Indian people to conform to reservation life
14. The four main categories of _____ are natural resources, human capital, capital goods, and entrepreneurship.
15. The voluntary exchange of goods and services without any government intervention.
16. Mr. Waltz decides he wants to take a risk and open up a Jello Shop. He invests his own capital, human capital, capital goods, and natural resources to start a business. What is this an example of?
17. The ideas and emotional drive a person has to produce something that other people will want to buy describes which factor of production?
18. Occurs when certain countries concentrate on the production of certain goods or services due to cost advantages:
19. Explain the concept of industrialization.
20. Brazil sends university students abroad to study in other countries.
21. Economic Growth does not allow companies to hire more employees
22. Who was the first African American woman to become a bank president?
23. The main objectives of government macroeconomic policy
24. What did the term 'Return to Normalcy' mean in the economic context?
25. Value of all goods and services produced in a year.
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