This quiz works best with JavaScript enabled. Home > Development > General > Economic Development – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Development Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The labor force of the country which is approximately ..... is depend on agriculture A) 56%. B) 66%. C) 44%. D) 50%. Show Answer Correct Answer: C) 44%. 2. X. Microeconomics deals with the behavior of the aggregates of economic activity as a wholeY. Macroeconomics seeks to understand and explain the behavior of individuals A) A. B) B. C) C. D) D. Show Answer Correct Answer: D) D. 3. Schooling not available to all citizens of country A) Developed Country. B) Developing Country. C) Neither one. D) None of above. Show Answer Correct Answer: B) Developing Country. 4. Based on your knowledge of social studies, what is the BEST description of the Canadian economy? A) It is a mixed economy. B) It is a traditional economy. C) It is a pure market economy. D) It is a pure command economy. Show Answer Correct Answer: A) It is a mixed economy. 5. Which country ranks lowest on the HDI? A) Mexico. B) Egypt. C) China. D) Niger. Show Answer Correct Answer: D) Niger. 6. Why did many poor countries get into debt A) They wanted to build hospitals, schools, airports etc. B) They owed money to other countries and banks. C) The interest rates went up. D) Cheap imports of crops. Show Answer Correct Answer: A) They wanted to build hospitals, schools, airports etc. 7. When two economies exist concurrently, with a modern commercialised industrial sector developed alongside a traditional subsistence agricultural sector, then I t is called as A) Dualism. B) Capitalist economy. C) Labour intensive economy. D) Traditional society. Show Answer Correct Answer: A) Dualism. 8. The bond market important because A) They are easily the most widely followed financial markets. B) They are the markets where interest rates are determined. C) They are the markets where foreign exchange rates are determined. D) All of the above. Show Answer Correct Answer: B) They are the markets where interest rates are determined. 9. The total amount of goods and services produced in a country. A) Gross domestic product. B) Net consumer product. C) Net domestic product. D) Gross international product. Show Answer Correct Answer: A) Gross domestic product. 10. Moving from less to more developed economies ..... A) Developed. B) Less developed. C) Newly industrialized. D) None of above. Show Answer Correct Answer: C) Newly industrialized. 11. Carpet weaving and poultry farming are ..... industries A) Large-scale. B) Small-scale. C) Cottage. D) None of above. Show Answer Correct Answer: B) Small-scale. 12. What is the extra money you pay back, the fee for having a loan. A) Debt. B) Trade. C) Tariff. D) Interest. Show Answer Correct Answer: D) Interest. 13. Every financial institution performs the following function: A) It determines the level of interest rates. B) It allows common stock to be traded. C) It allows loans to be made. D) It channels funds from lenders-savers to borrowers-spenders. Show Answer Correct Answer: D) It channels funds from lenders-savers to borrowers-spenders. 14. The value of the total output of goods and services produced in a country in a given time period (normally 1 year). A) FDI (Foreign Direct Investment). B) GDP (Gross Domestic Product). C) HDI (Human Development Index). D) GNP (Gross National Product). Show Answer Correct Answer: B) GDP (Gross Domestic Product). 15. What allowed for the creation of Maquiladoras? A) NAFTA. B) NATO. C) ANSEAN. D) HDI. Show Answer Correct Answer: A) NAFTA. 16. Many corporate headquarters relocated in the USA where products design takes place. The actual manufacturing takes place overseas. What economic activity is conducted at corporate headquarters in this case? A) Quaternary. B) Quinary. C) Primary. D) Secondary. Show Answer Correct Answer: A) Quaternary. 17. The ability of a group to achieve improvements in their own status A) Empowerment. B) Anthropocentric. C) Women in the labor force. D) Reproductive Healthy. Show Answer Correct Answer: A) Empowerment. 18. According to Weber, a bread manufacturer would choose to locate its factory close to a large population of people because A) Bread is very perishable. B) The finished product is bulk gaining. C) Baking is a footloose industry. D) The finished product is bulk reducing. Show Answer Correct Answer: B) The finished product is bulk gaining. 19. The total value of goods and services produced in a year in a given country. the value varies greatly between MDCs and LDCs and is one of the best indicators of development. A) Gross national product. B) Gross domestic product. C) Gender inequality index. D) Gross national income. Show Answer Correct Answer: B) Gross domestic product. 20. Which of the following is an example of a footloose industry? A) Diamonds. B) Computer chips. C) Winery. D) Hotels.com. Show Answer Correct Answer: D) Hotels.com. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomic Development Quiz 1Economic Development Quiz 2Economic Development Quiz 3Economic Development Quiz 4Economic Development Quiz 5Economic Development Quiz 6Economic Development Quiz 7Economic Development Quiz 8Economic Development Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books