Economic Growth Quiz 18 (18 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Using money to create a new capital good

Correct Answer: B) Real investment.

2. The forecast of Germany's GDP growth in 2013 was 1.5%.What might cause economic growth?

Correct Answer: C) An increase in productivity.

3. The extent to which workers can switch between jobs

Correct Answer: C) Occupational mobility.

4. Total value of all goods and services produced in a country

Correct Answer: A) Gross Domestic Product (GDP).

5. High levels of GDP per capita imply

Correct Answer: B) High material standards of living.

6. How are entrepreneurs important to a country's growth?

Correct Answer: D) Entrepreneurs create new markets that provide jobs.

7. The money a person has available after taxes have been pd

Correct Answer: D) Disposable income.

8. This language family has the most native speakers.

Correct Answer: C) Germanic.

9. Represent the aspect of the Trade Cycle that shows the average over the viewed GNP over time.

Correct Answer: C) Trend.

10. If a nation's GDP per capita rises from $ 32 500 to $ 32 800 the rate of economic growth is

Correct Answer: A) 0.92%.

11. The things that nations invest in to increase productivity and manufacture things more efficiently are .....

Correct Answer: B) Capital goods.

12. Which countries have the highest unenployment rates?

Correct Answer: C) Greece.

13. A product of the earth (gift of nature) that people use to meet their needs is a what?

Correct Answer: D) Natural resource.

14. Which of the following economies make use of export promotion?

Correct Answer: D) Singapore.

15. What does productive capacity mean?

Correct Answer: C) The maximum possible output of an economy.

16. The total value of goods and services produced in a country in a year is called the .....

Correct Answer: B) GDP.

17. The value that a worker brings to the marketplace (his/her job) is called .....

Correct Answer: C) Human capital.

18. A sustained general increase in prices across an economy.

Correct Answer: D) Inflation.