Economic Growth Quiz 77 (25 MCQs)

Quiz Instructions:

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1. Why should a country invest in infrastructure/capital?

2. Why should countries invest in developing capital goods?

3. Because of inflation, you should use:

4. Spreads entrepreneurial mentality. People begin to start and run their own businesses and industries.

5. What major issue led to the Republican Party?

6. Which of the following is an increase by society in the average level of physical and/or human capital per person?

7. What was the result of the Homestead Strike at a Carnegie Steel mill?

8. The presence or absence of these factors determine the country's GDP for the year

9. Which statement best describes the relationship between a country's literacy rate & it's standard of living.

10. There are _____ stages in the economic cycle

11. What is one reason that a country could have a high GDP?

12. When prices are compared without adjusting them for inflation, this is called _____

13. Explorers from what European country brought cattle to North America?

14. An economy that depends on agriculture and bartering, where decisions are made based on traditions, customs, habits, or beliefs

15. A country with high GDP has a low standard of living.

16. A _____ is a plant where crude oil is purified into petroleum.

17. Which of these is NOT a consequence of economic growth

18. The countries with the highest HDIs mostly belong to which continent?

19. An increased in the stock of capital (a major cause of economic growth) is described as _____

20. What is an example of an investment in human capital?

21. Israel's GDP per Capita is about $35, 000 while Turkey's is about $20, 000. Which country more than likely has a higher standard of living?

22. Which of the following is least likely to be a benefit of FDI in Country X?

23. Groups of people within a country who disagree with its government or leaders and fight against them

24. The _____ a country's GDP, the better the country's standard of living.

25. (a) is the total amount of final goods and services produced in a country within 1 year.