This quiz works best with JavaScript enabled. Home > Development > Growth > Economic Growth – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which country has invested capital good toward telecommunications? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: C) United Kingdom. 2. The concept of Income inequality is A) Seeing how rich our people are. B) Seen as a measure of the fairness of the society we live in. C) Comparing our incomes. D) Comparing how rich New Zealand is to other countries. Show Answer Correct Answer: B) Seen as a measure of the fairness of the society we live in. 3. If GDP is £300 billion and the population is 30 million. What is GDP per capita? A) £270 billion. B) £100, 000. C) £10, 000. D) £1, 000. Show Answer Correct Answer: C) £10, 000. 4. When a country invests in education for its citizens, what is it increasing? A) Entrepreneurship. B) Natural Resources. C) Human Capital. D) Capital Goods. Show Answer Correct Answer: C) Human Capital. 5. Man-made resources used in the production process i.e. machines in a factory. A) Labour. B) Household. C) Capital. D) Revenue. Show Answer Correct Answer: C) Capital. 6. What are examples of capital goods? A) Factories and technology. B) Minerals and oil. C) Skills and talents. D) Inventions. Show Answer Correct Answer: A) Factories and technology. 7. Which term is used to describe a situation where most people who are looking for work are able to find a job? A) Full employment. B) Seasonal unemployment. C) Frictional unemployment. D) Cyclical unemployment. Show Answer Correct Answer: A) Full employment. 8. If a citizen of Russia wishes to travel to the United Kingdom for vacation, they should first visit which of these institutions in order to exchange their Russian rubles for British pounds? A) Bank. B) Stock market. C) Any British store. D) Any Russian store. Show Answer Correct Answer: A) Bank. 9. Which of the following is not a natural resource found in in Southwest Asia? A) Oil. B) Freshwater. C) Minerals. D) Cotton. Show Answer Correct Answer: B) Freshwater. 10. When you think of a brain which category do you think of? A) Natural Resources. B) Capital Goods. C) Entrepreneurship. D) Human Capital. Show Answer Correct Answer: D) Human Capital. 11. The workers who produce the goods and service (example-Miners, doctors and teachers) A) Human Resources. B) Capital Resources. C) Natural Resources. D) Scarcity. Show Answer Correct Answer: A) Human Resources. 12. Which of the following explains the term economic growth A) Increase in per capita production. B) Increase in per capita real income. C) Structural change in the economy. D) All of the above. Show Answer Correct Answer: D) All of the above. 13. What did people blame the lost decade on originally? A) Fiscal Policy. B) The government. C) Aging Population. D) The people. Show Answer Correct Answer: C) Aging Population. 14. A farmer buying a tractor for his/her farm is an example of ..... A) Investment in capital goods. B) Investment in human capital. C) Investment in natural resources. D) Investment in entrepreneurship. Show Answer Correct Answer: A) Investment in capital goods. 15. Greater leisure time would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: C) Net social welfare. 16. When workers are represented by their union during negotiations. A) Collective Bargaining. B) Strike. C) Vertical Integration. D) None of above. Show Answer Correct Answer: A) Collective Bargaining. 17. What is most likely to cause economic growth? A) Increased unemployment. B) Increased interest rates. C) Increased education and training for workers. D) Increased money supply. Show Answer Correct Answer: C) Increased education and training for workers. 18. What is the currency of the countries in the European Union? A) Penny. B) Dollar. C) Ruble. D) Euro. Show Answer Correct Answer: D) Euro. 19. The government begins funding training programs to teach computer repair and website design to unemployed adults. Which kind of unemployment would such training help MOST? A) Frictional. B) Seasonal. C) Structural. D) Cyclical. Show Answer Correct Answer: C) Structural. 20. What are people who risk their time and money to produce a new product or service in order top make money? A) Entrepreneurs. B) Capital Goods. C) Human Capitals. D) Natural Resources. Show Answer Correct Answer: A) Entrepreneurs. Next →Related QuizzesDevelopment QuizzesEconomic Growth Quiz 2Economic Growth Quiz 3Economic Growth Quiz 4Economic Growth Quiz 5Economic Growth Quiz 6Economic Growth Quiz 7Economic Growth Quiz 8Economic Growth Quiz 9Economic Growth Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books