This quiz works best with JavaScript enabled. Home > Development > Growth > Economic Growth – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 11 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How many countries currently make up the EU? A) 27. B) 14. C) 3. D) 37. Show Answer Correct Answer: A) 27. 2. In order to better communicate with people from other countries, most Europeans learn to speak ..... as a second language. A) French. B) English. C) German. D) Spanish. Show Answer Correct Answer: B) English. 3. When did the Lost Decade begin? A) 1990's. B) 1980's. C) 1970's. D) 1960's. Show Answer Correct Answer: A) 1990's. 4. Which of these is NOT a consequence of economic growth A) Improved living standards. B) Increase in income. C) Increase in unemployment. D) Consumption of more luxury products. Show Answer Correct Answer: C) Increase in unemployment. 5. GDP is the total value of goods and services A) Produced all over the world. B) Produced in one month. C) Produced within a nation's borders. D) Produced by a singl company. Show Answer Correct Answer: C) Produced within a nation's borders. 6. What improves peoples' living standards? A) Having more money. B) Being able to buy more goods and services. C) Having a command style economy. D) Having more businesses. Show Answer Correct Answer: B) Being able to buy more goods and services. 7. Which country has invested capital goods in the automotive industry? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: B) Germany. 8. ..... typically refers to improvements in a variety of indicators such as literacy rates, life expectancy, and poverty rates. A) Economic Standards. B) Economic Growth. C) Economic Development. D) Economic Measurement. Show Answer Correct Answer: C) Economic Development. 9. Estimated total value of goods and services produced in nation in a years time: A) Wage. B) Gross Domestic Product. C) Entrepreneurship. D) Per Capita. Show Answer Correct Answer: B) Gross Domestic Product. 10. Which country specializes in fishing? A) United Kingdom. B) Russia. C) Germany. D) None of above. Show Answer Correct Answer: A) United Kingdom. 11. In this economic system people barter and trade goods to get the products that they need. A) Mixed. B) Market. C) Traditional. D) Command. Show Answer Correct Answer: C) Traditional. 12. Economists measure savings to A) Predict consumers expectations. B) Predict shortages in the market. C) Help monitor public consumption. D) Determine the strength of the economy. Show Answer Correct Answer: D) Determine the strength of the economy. 13. More people in an economy will normally result in A) Lower GDP per Capita. B) Lower capital. C) Capital Increase. D) More land per person. Show Answer Correct Answer: C) Capital Increase. 14. What is true about literacy rate and how well off people are (or, the standard of living) in a country? A) The higher the literacy rate, the higher the standard of living. B) The lower the literacy rate, the higher the standard of living. C) There is no relationship between the two. D) None of above. Show Answer Correct Answer: A) The higher the literacy rate, the higher the standard of living. 15. India's government has invested heavily in factories, modern machinery, and technology. This investment in is called ..... A) Human Capital. B) Capital Goods. C) Monetary Capital. D) Currency Exchange. Show Answer Correct Answer: B) Capital Goods. 16. The total spending on goods and services by individuals and households A) Consumption. B) Exports. C) Investment. D) Imports. Show Answer Correct Answer: A) Consumption. 17. The continual increase in average prices A) Per capita. B) Inflation. C) Import. D) None of above. Show Answer Correct Answer: B) Inflation. 18. A material on or in the earth that has economic value. A) Human Capital. B) Capital Goods. C) Public sector. D) Natural resource. Show Answer Correct Answer: D) Natural resource. 19. When a company has near complete control of all the business in an industry. A) Monopoly. B) Dividend. C) Vertical Integration. D) None of above. Show Answer Correct Answer: A) Monopoly. 20. What economic measurement helps to monitor the business cycle? A) Gross domestic policies. B) Guaranteed domestic product. C) Guaranteed domestic policies. D) Gross domestic product. Show Answer Correct Answer: D) Gross domestic product. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomic Growth Quiz 1Economic Growth Quiz 2Economic Growth Quiz 3Economic Growth Quiz 4Economic Growth Quiz 5Economic Growth Quiz 6Economic Growth Quiz 7Economic Growth Quiz 8Economic Growth Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books