Global MCQ Practice

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Economic Growth Quiz 66 (25 MCQs)

Quiz Instructions:

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1. When something loses its value, we call this _____
2. The production possibilities frontier shows the _____ combinations of two products that may be produced in a particular time period with available resources.
3. A positive output gap will occur during a boom when the economy is overheating
4. What is the only thing that makes an economy grow in the long run?
5. AD curve shift to right to show actual economic growth
6. What did buying on margin refer to in the context of the stock market?
7. A person who starts a business is called a/an
8. Which of the following is a disadvantage of import substitution strategy?
9. Which best describes the reason for inequality in Cambridge?
10. True or False Developing Countries have strong infrastructure
11. Virginia's government consists of _____
12. Which of the following is not considered an 'injection' in the circular flow of income?
13. When a government changes the laws regarding land ownership and redistributes land based on those laws.
14. Which of the following countries has the LEAST amount of natural resources?
15. Government program created to encourage settlement in the western territories.
16. What is the role of education in human capital?
17. How does voluntary trade help the economy
18. List two factors contributing to inequality.
19. Compensation of employees is the payments for labor services, net interest, rental income, corporate profits, and proprietors are the payment for _____ and profit for _____
20. What was the main purpose of buying stocks on margin?
21. "This is all of the goods that are produced in the country and then used to make other goods & services." Which production factor is this?
22. How can a country increase their GDP?
23. What can shift LRAS to the right?
24. An increase in which of the following would be most likely to increase long-run growth?
25. Calculate the economic growth rate if GDP was £100 billion in Year 1 and £102 billion in Year 2.
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