This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 54 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 54 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is a measure of economic growth? A) Real GDP per capita. B) Productive Capacity. C) Net Social Welfare. D) All of the above. Show Answer Correct Answer: D) All of the above. 2. What are some of the economical problems the pandemic brought? A) Financial marketing volatility and disruption to industrial production. B) Rapid devaluation of a currency. C) Raise in the cost of products. D) None of above. Show Answer Correct Answer: A) Financial marketing volatility and disruption to industrial production. 3. What are the four types of economies? A) Command, demand, capitalist, communism. B) Traditional, command, market, mixed. C) Mixed, market, traditional, primary. D) None of the above. Show Answer Correct Answer: B) Traditional, command, market, mixed. 4. Economic growth becomes greater than population growth. A) Stage 2:Pre-Condition for Take-Off. B) Stage 3:Take-Off. C) Stage 1:Traditional Society. D) Stage 5:High Mass Consumption. E) Stage 4:Drive to Maturity. Show Answer Correct Answer: E) Stage 4:Drive to Maturity. 5. A price index determined by measuring the price of a standard group of goods meant to represent the market basket of a typical consumer. A) Inflation. B) Consumer Price Index. C) Customer Purchasing Index. D) Consumer Policy Index. Show Answer Correct Answer: B) Consumer Price Index. 6. How do entrepreneurs impact a country's GDP? A) If you have better machines, you will be more productive and make more money. B) The more entrepreneurs, then the more companies, which leads to more jobs, more production, more profit and a higher GDP. C) The more entrepreneurs, then the more companies, which leads to less jobs, more production, more profit and a lower GDP. D) None of above. Show Answer Correct Answer: B) The more entrepreneurs, then the more companies, which leads to more jobs, more production, more profit and a higher GDP. 7. The measure of goods and services produced ina country within a year A) Exports. B) Imports. C) Natural resources. D) Gross domestic product. E) Economy. Show Answer Correct Answer: D) Gross domestic product. 8. What is a method to increase economic growth? A) Increase regulations. B) Reduce government expenditure. C) Increase labour productivity. D) Increase unemployment. Show Answer Correct Answer: C) Increase labour productivity. 9. Investing in Technology A) Human Capital. B) Capital goods. Show Answer Correct Answer: B) Capital goods. 10. Due to a cyclical downturn, a government is experiencing a budget deficit.If the government wishes to stimulate aggregate demand, which policy would be most effective? A) Financing the deficit by selling bonds to individuals. B) Ncreasing tax rates to eliminate the deficit. C) Financing the deficit by borrowing from the Central Bank. D) Financing the deficit by selling state assets to private firms. Show Answer Correct Answer: C) Financing the deficit by borrowing from the Central Bank. 11. Write a statement that describes the relationship between a country's investment in human capital, capital goods and it's GDP. A) Investment in capital goods negatively impacts a country's GDP. B) Investment in human capital negatively impacts a country's GDP. C) Investment in human capital and capital goods has no impact on a country's GDP. D) Investment in human capital and capital leads to an increase GDP. Show Answer Correct Answer: D) Investment in human capital and capital leads to an increase GDP. 12. What is the main factor that influences economic growth? A) Land. B) Entrepreneurship. C) Capital Goods. D) Labor. Show Answer Correct Answer: C) Capital Goods. 13. Which major Texas city had the largest population increase due to the Railroad Boom? A) Galveston. B) Saint Anthony. C) Step. D) Dallas. Show Answer Correct Answer: D) Dallas. 14. What industry was huge in Texas following the Civil War? A) Cattle. B) Agriculture. C) Railroads. D) Oil. Show Answer Correct Answer: A) Cattle. 15. What were the two specific measures taken under Warren Harding's economic policy? A) Raising protective tariffs and reducing taxes. B) Increasing government spending and raising taxes. C) Implementing price controls and reducing regulations. D) Lowering protective tariffs and increasing taxes. Show Answer Correct Answer: A) Raising protective tariffs and reducing taxes. 16. Jeffrey signs his employees up to learn how to run a new machine. A) Capital Goods. B) Natural Resources. C) Entrepreneur. D) Human Capital. Show Answer Correct Answer: D) Human Capital. 17. When a government has the acceptance and support of its citizens A) Legitimacy. B) Dissidents. C) Federal system. D) Nationalization. Show Answer Correct Answer: A) Legitimacy. 18. How might an increase in investment in capital goods affect the economies of Kenya and Nigeria? A) It would lead to a decrease in both GDP and GDP per capita. B) It would lead to an increase in both GDP and GDP per capita. C) . It would lead to a decrease in GDP, but an increase in GDP per capita. D) It would lead to an increase in GDP, but a decrease in GDP per capita. Show Answer Correct Answer: B) It would lead to an increase in both GDP and GDP per capita. 19. What is the main drawback to growth and development in developing countries? A) Low level of foreign aid. B) Excessive government intervention. C) High level of debt repayments. D) Lack of trade liberalisation. Show Answer Correct Answer: C) High level of debt repayments. 20. ..... does not consider the size of the informal economy. The informal economy is also known as the black economy which is unrecorded economic activity. A) Economic Development. B) Economic Growth. Show Answer Correct Answer: B) Economic Growth. 21. Which is an example of a capital good? A) Education. B) Tariffs. C) Job Training. D) Factories. Show Answer Correct Answer: D) Factories. 22. If there is improved technique of Production in both of the goods on a PPC, how will the PPC will be affected? A) Leftward shift of PPC. B) Rightward shift of PPC. C) Movement outwards of the x or y axis, not both. D) None of the above. Show Answer Correct Answer: B) Rightward shift of PPC. 23. Why would a business invest money in capital goods? A) If you invest money, you will make more money. B) If you have better machines, you will be more productive and make more money. C) More natural resources allows you to make more goods. D) None of above. Show Answer Correct Answer: B) If you have better machines, you will be more productive and make more money. 24. Unemployment is most likely to occur during an economic expansion A) True. B) 12. C) Mr. Bush. D) False. Show Answer Correct Answer: D) False. 25. Why did Gullah evolve? A) Because of a need to have a common language on the Sea Islands. B) Planters brought the Gullah people from different tribes. C) Planters freed their mistresses and form a group called the "Gullah People". D) Because of the desire to have a written language. Show Answer Correct Answer: A) Because of a need to have a common language on the Sea Islands. 26. Name one type of capital good. A) Equipment. B) Tools. C) Raw materials. D) Machinery. Show Answer Correct Answer: D) Machinery. 27. True or False:Globalization can lead to both positive and negative effects on economic growth. A) False. B) Only positive effects. C) True. D) Only negative effects. Show Answer Correct Answer: C) True. 28. India's government has invested heavily in factories, modern machinery, and technology. This investment in is called ..... A) Monetary Capital. B) Currency Exchange. C) Human Capital. D) Capital Goods. Show Answer Correct Answer: D) Capital Goods. 29. Of the countries below, check all those whose economies are expected to grow in 2020? A) China. B) Germany. C) USA. D) United Kingdom. Show Answer Correct Answer: A) China. 30. How can we increase a countries GDP per capita? A) Increase the unemployment rate. B) Invest in education and healthcare. C) Increase the poverty rate. D) Increase the tax rate. Show Answer Correct Answer: B) Invest in education and healthcare. ← 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