This quiz works best with JavaScript enabled. Home > Development > Growth > Economic Growth – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 14 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What happens when countries have a low GPD A) They are higher than others. B) They fail at everything. C) They have weaker economies. D) They have no money. Show Answer Correct Answer: C) They have weaker economies. 2. The part of the economy owned and operated by the national government A) Public Sector. B) Private Sector. C) Profit. D) Natural Resource. Show Answer Correct Answer: A) Public Sector. 3. Able to read and write in one's native language. A) Literacy Rate. B) Literate. C) Public sector. D) Natural Resource. Show Answer Correct Answer: B) Literate. 4. How much share/assets can a foreign investor own for corporations in the Philippines in general? A) 40%. B) 50%. C) 60%. D) None of the above. Show Answer Correct Answer: A) 40%. 5. The capital spending of firms used to increase production and to expand the economy's productive capacity. A) Government spending. B) Exports. C) Investment. D) Imports. Show Answer Correct Answer: C) Investment. 6. America's ..... is calculated by adding up consumer spending, government spending, national investments and net exports. A) Per capita. B) Gross domestic product. C) Inflation. D) None of above. Show Answer Correct Answer: B) Gross domestic product. 7. Capital accumulation promotes economic A) Fairness. B) Standards. C) Growth. D) Freedom. Show Answer Correct Answer: C) Growth. 8. Which among the following countries would probably have the lowest HDI? A) Philippines. B) Singapore. C) Thailand. D) Malaysia. Show Answer Correct Answer: A) Philippines. 9. How can an economy create long run economic growth A) Decrease the cost of living. B) Improve the quality and/or quantity of it's factors of production. C) Lower the interest rate. D) Increase teacher's salaries. Show Answer Correct Answer: B) Improve the quality and/or quantity of it's factors of production. 10. Laissez faire is a belief that? A) The more government intervention the better. B) The economy and society will tend to do better with less or no government interference. C) Technology is the key to growth. D) None of the answers are correct. Show Answer Correct Answer: B) The economy and society will tend to do better with less or no government interference. 11. What does Gross Domestic Product mean? A) Total amount of money deposited in the bank each year. B) Total value of all natural resources in a country. C) Total value of goods and services produced in one year. D) Total value of goods and serviced produced in ten years. Show Answer Correct Answer: C) Total value of goods and services produced in one year. 12. Which of the following is a benefit of economic growth? A) A rise in the standard of living. B) Increased pollution. C) Increased congestion. D) Inequalities in income and wealth. Show Answer Correct Answer: A) A rise in the standard of living. 13. The Human Development Index (HDI) has 3 important criteria, which of these is NOT included? A) Life expectancy. B) Education. C) Real GDP/Income. D) Pollution. Show Answer Correct Answer: D) Pollution. 14. When you spend money at the store, you're contributing to your town's ..... A) Inflation. B) Import. C) Economy. D) None of above. Show Answer Correct Answer: C) Economy. 15. The increase in unemployment caused by the recession phase of the business cycle is called A) Frictional unemployment. B) Structural unemployment. C) Cyclical unemployment. D) Seasonal Unemployment. Show Answer Correct Answer: C) Cyclical unemployment. 16. The total value of all final goods and service produced by a country's citizens A) GDP. B) GNP. C) GNI. D) Real GDP. Show Answer Correct Answer: B) GNP. 17. Which of the following explains the term economic development? A) Improvement in technology. B) Rise in unemployment. C) Fall in literacy rate. D) Rise in death rates. Show Answer Correct Answer: A) Improvement in technology. 18. Which formula is the correct way to measure economic growth rate? A) Original GDP / Change in GDP x 100. B) Original GDP-Change in GDP x 100. C) Change in GDP / Original GDP x 100. D) Change in GDP-Original GDP x 100. Show Answer Correct Answer: C) Change in GDP / Original GDP x 100. 19. What factor of ecenomic growth is this:the knowledge, skills, training and health care that workers need to produce goods or services A) Capital goods. B) Human capital. C) (Entrepreneurship). D) Natural resorses. Show Answer Correct Answer: B) Human capital. 20. Among the following determinants of growth, which one is a non-economic factor A) Natural resources. B) Population growth. C) Favourable legislation. D) Capital accumulation. Show Answer Correct Answer: C) Favourable legislation. ← 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