This quiz works best with JavaScript enabled. Home > Development > Growth > Economic Growth – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which government agency is in charge of developing and coordinating the Philippine Development Plan? A) National Economic Development Authority. B) Department of Public Works and Highways. C) Department of Trade and Industry. D) None of above. Show Answer Correct Answer: A) National Economic Development Authority. 2. Turkey invests 3 percent of its GDP into education for its citizens-which productive resource is this an example of? A) Standard of Living. B) Capital goods. C) Human capital. D) Enrepreneurship. Show Answer Correct Answer: C) Human capital. 3. Which point in the economic cycle denotes highest business and consumer confidence? A) Trough. B) Boom. C) Peak. D) Recovery. Show Answer Correct Answer: C) Peak. 4. Economic growth in India will happen necessarily if there is A) Population growth. B) Capital formation. C) Technical progress in the global economy. D) All the above. Show Answer Correct Answer: B) Capital formation. 5. Which country has invested capital goods toward oil and natural gas (energy sector)? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: A) Russia. 6. Why does capital deepening work with human capital? A) Capital deepening means there is more money to hire workers. B) Capital deepening increases people's savings rate. C) Greater skill increases workers' output. D) Human capital increases GDP. Show Answer Correct Answer: C) Greater skill increases workers' output. 7. If the consumer price index (CPI) for year 2013 is equal to 180 and for year 2014 is equal to 198, calculate the inflation rate level in year 2014. A) 10%. B) 18%. C) 80%. D) 98%. Show Answer Correct Answer: A) 10%. 8. Why is real GDP considered a better measure of growth than nominal GDP? A) It includes inflation. B) It takes into account price changes. C) It shows the distribution of income in the economy. D) It includes non-economic factors. Show Answer Correct Answer: B) It takes into account price changes. 9. GDP at market prices that is not adjusted for inflation is called A) Real GDP. B) Potential GDP. C) Nominal GDP. D) None of above. Show Answer Correct Answer: C) Nominal GDP. 10. Having many entrepreneurs in a country will ..... that country's Gross Domestic Product. A) Decrease. B) Increase. C) Not affect. D) None of above. Show Answer Correct Answer: B) Increase. 11. Which of the following is a positive impact of tourism on the environment? A) Vandalism. B) Increased littering. C) Conservation of natural environments. D) Increased congestion. Show Answer Correct Answer: C) Conservation of natural environments. 12. India's economy grew up by approximately 7% in 2016. What must have increased in India in 2016? A) Gross Domestic Product. B) Labour Productivity. C) The government's budget deficit. D) Rate of Inflation. Show Answer Correct Answer: A) Gross Domestic Product. 13. What is NOT an economic indicator? A) GDP (Gross Domestic Product). B) Unemployment. C) Equilibrium Price. D) Retail Sales. Show Answer Correct Answer: C) Equilibrium Price. 14. What is a country's GDP divided by its population called? A) GDP per capita. B) Divide per capita. C) GDP per divide. D) Cost per person. Show Answer Correct Answer: A) GDP per capita. 15. Israel's literacy rate is 99%. What does this mean? A) 99% of Israeli adults are entrepreneurs. B) 99% of Israeli adults have a low standard of living. C) 99% of Israeli adults are unemployed. D) 99% of Israeli adults can read and write. Show Answer Correct Answer: D) 99% of Israeli adults can read and write. 16. Economic growth can be shown by A) Production possibility frontier. B) Gross Domestic frontier. C) Marginal consumption frontier. D) Minimum efficient scale. Show Answer Correct Answer: A) Production possibility frontier. 17. Sales of industrial equipment to foreign businesses A) Exports. B) Government spending. C) Consumption. D) Investment. Show Answer Correct Answer: A) Exports. 18. An outward shift in the PPC is analogous to a ..... shift of the long-run aggregate supply curve. A) Leftward. B) Rightward. C) Vertical. D) Indeterminate. Show Answer Correct Answer: B) Rightward. 19. What is capital goods? A) Skills and education that countries help you. B) A person who takes risk. C) Goods making more and better goods and services. D) A gift of nature. Show Answer Correct Answer: C) Goods making more and better goods and services. 20. Which of following statement is true about the Economic Growth A) It refers to increase in Gross Domestic Product (GDP). B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). C) It is characterized by fall in unemployment rate. D) Rise in GDP on monetary term. Show Answer Correct Answer: B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). ← 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