This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 58 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 58 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is generally regarded as the true index of economic growth A) An increase in national income along with a corresponding increase in population. B) An increase in national income at constant prices during a year. C) A sustained increase in real per capita income. D) An increase in national income at current prices over time. Show Answer Correct Answer: C) A sustained increase in real per capita income. 2. What part of Europe has low literacy rates? A) The Appalachians. B) The Arctic. C) The Balkans. D) The eastern side. Show Answer Correct Answer: C) The Balkans. 3. The factories, machines, technology, tools, equipment, and anyother man-made goods used to make other goods or services A) Capital goods. B) Chief petty officer. C) Asphalt. D) How things work. Show Answer Correct Answer: A) Capital goods. 4. Which of the following is not primarily an aggregate demand policy designed to promote economic growth? A) Decreasing the rates of personal and company tax to decrease incentives and profits. B) Decreasing interest rates. C) Decreasing income taxes to increase disposable income. D) Policies designed to increase productivity and profits. Show Answer Correct Answer: D) Policies designed to increase productivity and profits. 5. A ..... is one company that controls the whole industry. A) Collective bargaining. B) Muckraker. C) Would-opoly. D) Monopoly. Show Answer Correct Answer: D) Monopoly. 6. True or False:Monopolists of the early 1900s were nicknamed Robber Barons because they had ethical business practices and treated their work force well. A) False. B) True. Show Answer Correct Answer: A) False. 7. Why has education reform been slow to take place in Sudan? A) The Quran forbids formal education among its followers. B) Sudan has been involved in civil war for many years. C) It has been difficult to find any teachers to teach in Sudan. D) Most people are trained to work in the oil fields and do not need to go to school. Show Answer Correct Answer: B) Sudan has been involved in civil war for many years. 8. The economy of the USA grew by approximately 4% a year between 1990 and 2000.What must have increased from 1990 to 2000? A) Gross domestic product. B) Average price level. C) Level of employment. D) Labour productivity. Show Answer Correct Answer: A) Gross domestic product. 9. Which country is Bangladesh secretly becoming the richest in? A) Mars. B) Narnia. C) World. D) Atlantis. Show Answer Correct Answer: C) World. 10. What did the elimination of taxes on freight and transportation do? A) Reduced profits of businesses. B) Had no effect on businesses. C) Increased profits of businesses. D) Led to higher consumer prices. Show Answer Correct Answer: C) Increased profits of businesses. 11. What does a country do to its natural resources? A) Specialize in developing it into a valuable product. B) Trade them with other countries. C) Keep them. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. Which of the following combinations of Fiscal and Monetary policy measures could be used to promote economic growth A) Increase in government spending and increase in the rate of interests. B) Decrease in taxes and increase in the money supply. C) Decrease in taxation and decrease in the rate of interests. D) Increase in government spending and increase in interest rates. Show Answer Correct Answer: C) Decrease in taxation and decrease in the rate of interests. 13. What is the role of demand-side policies in promoting economic growth? A) They focus on increasing government spending. B) They aim to reduce unemployment. C) They stimulate aggregate demand. D) They primarily target supply-side factors. Show Answer Correct Answer: C) They stimulate aggregate demand. 14. What does it mean to invest? A) To put in time, money, or energy in the hopes that something better will come out of it. B) Education and healthcare. C) A person who takes a risk to start a new business. D) None of above. Show Answer Correct Answer: A) To put in time, money, or energy in the hopes that something better will come out of it. 15. A person opens up a new sandwich shop and hires people to work at the restaurant is an example of a/an A) Physical capital. B) Capital goods. C) Entrepreneur. D) Human capital. Show Answer Correct Answer: C) Entrepreneur. 16. An import ..... is a tax aimed to reduce imported goods. A) Tariff. B) Income. C) Quota. D) Direct. Show Answer Correct Answer: A) Tariff. 17. Which of the following is the term for "the value of the output of all goods and services produced within a country in a year" A) Human capital. B) Entrepreneurship. C) Gross domestic product. D) Capital goods. Show Answer Correct Answer: C) Gross domestic product. 18. Given a government spending investment on infrastructure of £10 million, with a final GDP increase of £45 million, find the MULTIPLIER. A) 3.5. B) 4. C) 3. D) 4.5. Show Answer Correct Answer: D) 4.5. 19. The ..... amendment started prohibition. A) 13th Amendment. B) 18th Amendment. C) 15th Amendment. D) 20th Amendment. Show Answer Correct Answer: B) 18th Amendment. 20. Which factor of economic growth is All of the things found in or on the earth; "gifts of nature" ? A) Human Capital. B) Entrepreneurship. C) Capital Goods. D) Natural Resources. Show Answer Correct Answer: D) Natural Resources. 21. What are the factors that can cause fluctuations in actual growth? A) Predictable shocks. B) Demand side shocks. C) Supply side shocks. D) Stable economic conditions. Show Answer Correct Answer: C) Supply side shocks. 22. What is not a leakage from the circular flow of income? A) Undistributed profits. B) Indirect taxes. C) Unemployment benefits. D) Expenditure on foreign goods. Show Answer Correct Answer: C) Unemployment benefits. 23. What is the BEST way for a country to encourageeconomic growth in its private sector? A) Increasing government spending. B) Restricting trade with other countries. C) Reducing barriers to entrepreneurship. D) Nationalizing important industries. Show Answer Correct Answer: C) Reducing barriers to entrepreneurship. 24. If Israel's literacy rate is high, what can be concluded about their standard of living in Israel? A) The standard of living is low in Israel. B) The standard of living is high in Israel. C) The standard of living is not affected by the literacy rate. D) The standard of living will decrease as the GDP increases. Show Answer Correct Answer: B) The standard of living is high in Israel. 25. How much share/assets can a foreign investor own for corporations in the Philippines in general? A) 40%. B) 50%. C) 60%. D) None of the above. Show Answer Correct Answer: A) 40%. 26. What is South Africa's main export A) Oil. B) Textiles. C) Gold and diamonds. D) Agricultural products. Show Answer Correct Answer: C) Gold and diamonds. 27. If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work? A) It would have no effect on finding work. B) It might be easier to find work because businesses would be more likely to hire new employees. C) It might be more difficult to find work because businesses would be less likely to hire new employees. D) It might be easier to find work because businesses would have fewer workers to choose from. Show Answer Correct Answer: C) It might be more difficult to find work because businesses would be less likely to hire new employees. 28. Why are literacy rates for girls lower than those for boys in both Kenya and Sudan? A) Most girls in these countries do not want to go to school. B) Girls have shown they cannot do schoolwork as easily as boys. C) Very few schools have been opened for girls in either country. D) Traditional cultures teach that females should marry rather than seek an education. Show Answer Correct Answer: D) Traditional cultures teach that females should marry rather than seek an education. 29. Foreigners cannot fully own land in the Philippines. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 30. What was the primary goal of the Dawes Act? A) To preserve reservations for American Indians. B) To provide education to American Indians. C) To protect American Indian cultures. D) To encourage American Indians to become farmers. Show Answer Correct Answer: D) To encourage American Indians to become farmers. ← 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