This quiz works best with JavaScript enabled. Home > Economics > Development > General > Economic Development – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Development Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. X. Microeconomics deals with the behavior of the aggregates of economic activity as a wholeY. Macroeconomics seeks to understand and explain the behavior of individuals A) C. B) D. C) A. D) B. Show Answer Correct Answer: B) D. 2. Schooling not available to all citizens of country A) Developed Country. B) Developing Country. C) Neither one. D) None of above. Show Answer Correct Answer: B) Developing Country. 3. Based on your knowledge of social studies, what is the BEST description of the Canadian economy? A) It is a mixed economy. B) It is a traditional economy. C) It is a pure market economy. D) It is a pure command economy. Show Answer Correct Answer: A) It is a mixed economy. 4. Which country ranks lowest on the HDI? A) China. B) Niger. C) Mexico. D) Egypt. Show Answer Correct Answer: B) Niger. 5. Why did many poor countries get into debt A) They wanted to build hospitals, schools, airports etc. B) They owed money to other countries and banks. C) The interest rates went up. D) Cheap imports of crops. Show Answer Correct Answer: A) They wanted to build hospitals, schools, airports etc. 6. When two economies exist concurrently, with a modern commercialised industrial sector developed alongside a traditional subsistence agricultural sector, then I t is called as A) Labour intensive economy. B) Capitalist economy. C) Dualism. D) Traditional society. Show Answer Correct Answer: C) Dualism. 7. The bond market important because A) They are easily the most widely followed financial markets. B) They are the markets where interest rates are determined. C) They are the markets where foreign exchange rates are determined. D) All of the above. Show Answer Correct Answer: B) They are the markets where interest rates are determined. 8. The total amount of goods and services produced in a country. A) Net consumer product. B) Gross domestic product. C) Gross international product. D) Net domestic product. Show Answer Correct Answer: B) Gross domestic product. 9. Moving from less to more developed economies ..... A) Developed. B) Less developed. C) Newly industrialized. D) None of above. Show Answer Correct Answer: C) Newly industrialized. 10. Carpet weaving and poultry farming are ..... industries A) Large-scale. B) Small-scale. C) Cottage. D) None of above. Show Answer Correct Answer: B) Small-scale. 11. What is the extra money you pay back, the fee for having a loan. A) Trade. B) Debt. C) Tariff. D) Interest. Show Answer Correct Answer: D) Interest. 12. Every financial institution performs the following function: A) It determines the level of interest rates. B) It allows common stock to be traded. C) It allows loans to be made. D) It channels funds from lenders-savers to borrowers-spenders. Show Answer Correct Answer: D) It channels funds from lenders-savers to borrowers-spenders. 13. The value of the total output of goods and services produced in a country in a given time period (normally 1 year). A) GDP (Gross Domestic Product). B) FDI (Foreign Direct Investment). C) GNP (Gross National Product). D) HDI (Human Development Index). Show Answer Correct Answer: A) GDP (Gross Domestic Product). 14. What allowed for the creation of Maquiladoras? A) NATO. B) HDI. C) ANSEAN. D) NAFTA. Show Answer Correct Answer: D) NAFTA. 15. Many corporate headquarters relocated in the USA where products design takes place. The actual manufacturing takes place overseas. What economic activity is conducted at corporate headquarters in this case? A) Primary. B) Secondary. C) Quinary. D) Quaternary. Show Answer Correct Answer: D) Quaternary. 16. The ability of a group to achieve improvements in their own status A) Empowerment. B) Women in the labor force. C) Anthropocentric. D) Reproductive Healthy. Show Answer Correct Answer: A) Empowerment. 17. According to Weber, a bread manufacturer would choose to locate its factory close to a large population of people because A) Baking is a footloose industry. B) The finished product is bulk gaining. C) The finished product is bulk reducing. D) Bread is very perishable. Show Answer Correct Answer: B) The finished product is bulk gaining. 18. The total value of goods and services produced in a year in a given country. the value varies greatly between MDCs and LDCs and is one of the best indicators of development. A) Gross national income. B) Gross domestic product. C) Gross national product. D) Gender inequality index. Show Answer Correct Answer: B) Gross domestic product. 19. Which of the following is an example of a footloose industry? A) Winery. B) Diamonds. C) Computer chips. D) Hotels.com. Show Answer Correct Answer: D) Hotels.com. 20. Which of the following is a renewable resource? A) Hydroelectricity. B) Oil. C) Coal. D) Fossil fuel. Show Answer Correct Answer: A) Hydroelectricity. 21. How introduced the First "Five" year plan in India? (year 1951) A) Mr. Jawaharlal Nehru. B) Mrs. Indira Gandhi. C) Mr. Atal Bihari Vajpayee. D) Dr. Manmohan Singh. Show Answer Correct Answer: A) Mr. Jawaharlal Nehru. 22. In Rostow's Ladder of Development, Stage 4, Drive to Maturity in characterized by A) Specialization, surpluses, infrastructure. B) Subsistence, barter, agriculture. C) Diversification, innovation, less reliance on imports. D) Industrialization, growing investment, political change. Show Answer Correct Answer: C) Diversification, innovation, less reliance on imports. 23. The largest sector of Pakistan's economy is A) Health. B) Industry. C) Agriculture. D) Education. Show Answer Correct Answer: C) Agriculture. 24. What does Gross Domestic Product (GDP)? A) Total value of all goods and services produced in a country in one year. B) Total value of all goods and services made by one person. C) Something that is really yucky at home. D) Total value of a country's exports. Show Answer Correct Answer: A) Total value of all goods and services produced in a country in one year. 25. What can happen if you take advantage of the opportunities on the coast? A) Transport sand offshore. B) Change coastal landscape systems. C) Keep coastal landscape systems the same. D) None of above. Show Answer Correct Answer: B) Change coastal landscape systems. 26. The following are means of livelihood, except: A) Dressmaking. B) Farming. C) Fishing. D) Equity. Show Answer Correct Answer: D) Equity. 27. The Lewis theory of development, also known as the ..... A) Two sector model. B) Tri-sector model. C) Duel sector model. D) Three sector model. Show Answer Correct Answer: C) Duel sector model. 28. Which of the following is not an economic measure of development? A) Purchasing Power Parity. B) Literacy rate. C) GNI. D) GDP. Show Answer Correct Answer: B) Literacy rate. 29. Which of the following works to protect against the exploitation of agricultural labor? A) Fair trade. B) All agribusiness. C) Plantation farming. D) Suitcase farming. Show Answer Correct Answer: A) Fair trade. 30. What is a cause of desertification? A) Cutting down trees. B) Dumping a sand box. C) Flooding. D) Dehydration. Show Answer Correct Answer: A) Cutting down trees. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomics QuizzesEconomic Development Quiz 1Economic Development Quiz 2Economic Development Quiz 3Economic Development Quiz 4Economic Development Quiz 5Economic Development Quiz 6Economic Development Quiz 7Economic Development Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books