This quiz works best with JavaScript enabled. Home > Development > Growth > Economic Growth – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 4 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Resources created by people to help produce other things such as tools, machinery, and equipment. Money is one! A) Human Resources. B) Capital Resources. C) Natural Resources. D) Scarcity. Show Answer Correct Answer: B) Capital Resources. 2. How do you measure the strength of a nations economy? A) Adding up how many natural resources it has. B) Looking at a nations GDP and GDP per capita. C) Adding up how many entrepreneurs a nation has. D) Asking all citizens to complete the census every 10 years. Show Answer Correct Answer: B) Looking at a nations GDP and GDP per capita. 3. Which of the following does the dimension of enhancing technology adoption and stimulating innovation belong 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: C) Patuloy sa Pag-unlad (enhancing growth potential). 4. A student decides to open his own lemonade stand in order to make money to buy an Xbox. This is an example of: A) Human Capital. B) Entrepreneur. C) Capital Good. D) None of above. Show Answer Correct Answer: B) Entrepreneur. 5. Institution that channel savings to investors, banks insurance companies, savings and loan associations, credit union A) Savings. B) Financial intermediaries. C) Credit union. D) Pension. Show Answer Correct Answer: B) Financial intermediaries. 6. The countries of Europe's southeastern Balkan peninsula. A) Europe. B) Northern Europe. C) Balkans. D) Germany. Show Answer Correct Answer: C) Balkans. 7. I calculated the country's ..... education spending by diving its education budget by its population. A) Economy. B) Per capita. C) Net. D) None of above. Show Answer Correct Answer: B) Per capita. 8. Which of the following is a cost economic growth? A) Mobility. B) National Prestige. C) Social Costs. D) All of the above. Show Answer Correct Answer: C) Social Costs. 9. The percentage change in real GDP, from one period to another, is called A) Real GDP. B) Nominal GDP. C) The rate of economic growth. D) GDP per capita. Show Answer Correct Answer: C) The rate of economic growth. 10. Which of the following explains economic growth A) Increase in per capita production. B) Increase in per capita real income. C) Structural change in economy. D) All of the above. Show Answer Correct Answer: D) All of the above. 11. Economic growth measures the A) Growth of productivity. B) Increase in nominal income. C) Increase in output. D) None of the above. Show Answer Correct Answer: C) Increase in output. 12. Which of these natural resources is in extremely short supply in the Middle East? A) Water. B) Coal. C) Iron. D) Oil. Show Answer Correct Answer: A) Water. 13. Those who risk their own money and resources to create a new business or service. A) Literacy Rate. B) Standard of living. C) Entrepreneur. D) Private sector. Show Answer Correct Answer: C) Entrepreneur. 14. The ability to read and write at an eighth grade level is called ..... A) Readability rate. B) Illiterate rate. C) Literacy rate. D) Writerability rate. Show Answer Correct Answer: C) Literacy rate. 15. What is not a leakage from the circular flow of income? A) Expenditure on foreign goods. B) Indirect taxes. C) Undistributed profits. D) Unemployment benefits. Show Answer Correct Answer: D) Unemployment benefits. 16. Mr. Skinner has quit his job in order to look for another one. Mr. Skinner A) Is cyclically unemployed. B) Is frictionally unemployed. C) Is structurally unemployed. D) Is not counted as part of the labor force. Show Answer Correct Answer: B) Is frictionally unemployed. 17. Something we use A) Resource. B) Scarcity. C) Demand. D) Supply. Show Answer Correct Answer: A) Resource. 18. Spending by households on holidays A) Exports. B) Government spending. C) Consumption. D) Investment. Show Answer Correct Answer: C) Consumption. 19. Machinery, tools, and trucks to transport goods are examples of which of the four factors of economic growth? A) Human capital. B) Natural resources. C) Entrepreneur. D) Capital goods. Show Answer Correct Answer: D) Capital goods. 20. What does one call a person who starts a new business? A) A worker in a factory. B) A leader of a country. C) Entrepreneur. D) A student in college. Show Answer Correct Answer: C) Entrepreneur. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomic Growth Quiz 1Economic Growth Quiz 2Economic Growth Quiz 3Economic Growth Quiz 5Economic Growth Quiz 6Economic Growth Quiz 7Economic Growth Quiz 8Economic Growth Quiz 9Economic Growth Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books