This quiz works best with JavaScript enabled. Home > Development > Growth > Economic Growth – Quiz 17 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 17 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Economic growth is shown on the PPF model by A) An inward shift of the whole PPF. B) An outward shift of the whole PPF. C) A movement to the right along the PPF. D) A movement to the left along the PPF. Show Answer Correct Answer: B) An outward shift of the whole PPF. 2. As a verb, to gain financially; as a noun, the economic gains of a business A) Public Sector. B) Profit. C) Private Sector. D) Entrepreneur. Show Answer Correct Answer: B) Profit. 3. Which of the following policies is a supply-side policy and can be used for economic growth A) Increased government spending. B) Increased education and training for workers. C) Increased money supply. D) Decreased rates of interest. Show Answer Correct Answer: B) Increased education and training for workers. 4. A country can increase its capital goods by investing in what? A) New machinery, technology, factories, etc. B) Stocks. C) Annuities. D) Environmental regulations. Show Answer Correct Answer: A) New machinery, technology, factories, etc. 5. The knowledge and skills possessed by people that places value on them in the job market is ..... A) Human capital. B) Capital goods. C) GDP. D) Trade. Show Answer Correct Answer: A) Human capital. 6. The Labor Force is A) Employed plus those who are Unemployed. B) Everyone that currently holds a job. C) Government Employees. D) Everyone over the age of 18. Show Answer Correct Answer: A) Employed plus those who are Unemployed. 7. Which economy allows business owners and consumers to decide the basic economic questions? A) Command. B) Market. C) Traditional. D) Mixed. Show Answer Correct Answer: B) Market. 8. The total value of goods and services produced within the borders of a country during a specific time period, usually one year. A) GDP. B) GNI. C) HDI. D) None of above. Show Answer Correct Answer: A) GDP. 9. What ecenomic factor is this:people who are willing to take risks to create new businesses and products-a person who owns and operates his or her own business A) (Entrepreneurship). B) Capital goods. C) Human capital. D) Natural recorces. Show Answer Correct Answer: A) (Entrepreneurship). 10. Causes of economic growth A) Improvement in standard of living. B) Increase in Employment opportunities. C) Factor endowments. D) Tax revenues. Show Answer Correct Answer: C) Factor endowments. 11. The Philippine Development Plan aims towards the goals of improving Filipino lives by improving all of these dimensions EXCEPT: A) Strongly-bonded relationships. B) Comfortable lifestyle. C) Secure future. D) All of the above are included. Show Answer Correct Answer: D) All of the above are included. 12. Which is an example of investing in capital goods by a company? A) Constructing a new factory. B) Keeping old delivery trucks. C) Training workers to do their jobs better. D) Keeping old computers in order to save money. Show Answer Correct Answer: A) Constructing a new factory. 13. Nonprofit service cooperative that accepts deposits, makes loans, and provides other financial services A) Credit union. B) Premium. C) Financial assets. D) Risk. Show Answer Correct Answer: A) Credit union. 14. An entrepreneur needs to be innovative. What does that word mean? A) Comes up with new ideas. B) A risk taker. C) A follower. D) A person who is static (not a constant learner). Show Answer Correct Answer: A) Comes up with new ideas. 15. What will directly result in an increase in China's Gross National Product? A) Increased wages earned in a Malaysian-owned factory in China. B) Increased imports of goods and services. C) Increased outflows of net property income. D) Increased taxes on domestic expenditure. Show Answer Correct Answer: A) Increased wages earned in a Malaysian-owned factory in China. 16. Consumption tax was raised from ..... ? A) 2%-5%. B) 5%-8%. C) 10%-12%. D) 4%-6%. Show Answer Correct Answer: B) 5%-8%. 17. The number of adults who are able to read and write in a country is the ..... A) Proportion of labor. B) GNI. C) Literacy rate. D) Per capita rate. Show Answer Correct Answer: C) Literacy rate. 18. Which of the following does the dimension of expanding economic opportunities and increasing access to economic opportunities contribute to? A) Pagbabago (enhancing the social fabric). B) Malasakit (reducing inequality). C) Patuloy sa Pag-unlad (enhancing growth potential). D) None of above. Show Answer Correct Answer: B) Malasakit (reducing inequality). 19. Negative consequences of economic growth include A) Labour productivity. B) Improved standards of living. C) Risk of inflation. D) Fall in unemployment. Show Answer Correct Answer: C) Risk of inflation. 20. The Human Development Index uses all these indicators to measure the human standard of living EXCEPT: A) Level of education (mean years of schooling). B) Life expectancy. C) Per capita income (GDP divided by population). D) Electricity access. Show Answer Correct Answer: D) Electricity access. ← 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