This quiz works best with JavaScript enabled. Home > Economics > Development > Growth > Economic Growth – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 10 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. 2. 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. 3. The Human Development Index (HDI) has 3 important criteria, which of these is NOT included? A) Pollution. B) Real GDP/Income. C) Education. D) Life expectancy. Show Answer Correct Answer: A) Pollution. 4. 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. 5. The increase in unemployment caused by the recession phase of the business cycle is called A) Cyclical unemployment. B) Seasonal Unemployment. C) Structural unemployment. D) Frictional unemployment. Show Answer Correct Answer: A) Cyclical unemployment. 6. The total value of all final goods and service produced by a country's citizens A) GNI. B) GNP. C) GDP. D) Real GDP. Show Answer Correct Answer: B) GNP. 7. 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. 8. Which formula is the correct way to measure economic growth rate? A) Change in GDP / Original GDP x 100. B) Original GDP / Change in GDP x 100. C) Original GDP-Change in GDP x 100. D) Change in GDP-Original GDP x 100. Show Answer Correct Answer: A) Change in GDP / Original GDP x 100. 9. 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) Natural resorses. D) (Entrepreneurship). Show Answer Correct Answer: B) Human capital. 10. Among the following determinants of growth, which one is a non-economic factor A) Favourable legislation. B) Natural resources. C) Population growth. D) Capital accumulation. Show Answer Correct Answer: A) Favourable legislation. 11. GDP per capita means A) Real GDP per household. B) Real GDP per head. C) Real GDP per worker. D) None of above. Show Answer Correct Answer: B) Real GDP per head. 12. What is the best way to measure economic growth? A) Gross national product. B) Gross Domestic Product. C) Monetary policy. D) Inflation. Show Answer Correct Answer: B) Gross Domestic Product. 13. The size, skills and mobility of the economy's workforce A) Investment expenditure. B) Productivity. C) Factor endowment. D) Labour force. Show Answer Correct Answer: D) Labour force. 14. Spending on infrastructure, financed by taxes A) Investment. B) Consumption. C) Exports. D) Government spending. Show Answer Correct Answer: D) Government spending. 15. What is the economic sector most affected by the pandemic? A) Tourism. B) Technology. C) Textiles. D) Restaurants. Show Answer Correct Answer: A) Tourism. 16. If GDP was $ 270 million and the population was 50, 000, what would GDP per capita be? A) $ 47, 650. B) $ 5, 400. C) $ 13, 500. D) $ 185. Show Answer Correct Answer: B) $ 5, 400. 17. How has the Internet helped to improve the economies of many Latin American nations? A) By creating free markets. B) By increasing local manufacturing. C) By expanding domestic agriculture. D) By improving local entrepreneurship. Show Answer Correct Answer: D) By improving local entrepreneurship. 18. An increase in a country's annual output of goods and services is referred to as A) Economic Development. B) Gross National Product. C) Economic Growth. D) Gross Domestic Product. Show Answer Correct Answer: C) Economic Growth. 19. What factor of ecenomic growth is this:something that is in or supplied by our natural environment and can be consumed or used by people A) Capital goods. B) Natural resorces. C) Human capital. D) Stuff. Show Answer Correct Answer: B) Natural resorces. 20. Regular allowance for someone who has worked a certain number of years A) Risk. B) Diversification. C) Pension fund. D) Pension. Show Answer Correct Answer: D) Pension. 21. This social class grew during the Industrial Revolution. A) Lower Class. B) Middle Class. C) Upper Class. D) None grew. Show Answer Correct Answer: B) Middle Class. 22. Which country specializes in automobiles? A) United Kingdom. B) Russia. C) Germany. D) None of above. Show Answer Correct Answer: C) Germany. 23. Improvements in technology would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: B) Productive capacity. 24. Improved standard of health care would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: C) Net social welfare. 25. Entrepreneurship is ..... A) The willingness and innovation needed to risk demolishing a business. B) The willingness and innovation needed to risk starting a business. C) The willingness and innovation needed for infation. D) I HAVE NO CLUE. Show Answer Correct Answer: B) The willingness and innovation needed to risk starting a business. 26. What are the four main categories of productive resources? A) Food, games, and drinks. B) Air, trees, life, and water. C) I dont know the answer.. D) Human capital, capital goods, and entrepreneurship. Show Answer Correct Answer: D) Human capital, capital goods, and entrepreneurship. 27. What is the ratio of people without a job in the world? A) Just a bunch. B) 400 million people. C) 1 of 6 people. D) 14 per cent. Show Answer Correct Answer: C) 1 of 6 people. 28. What factor of ecinomic growth is this:the factories, machines, and technology that people need to make products A) Human capital. B) Capital goods. C) (Entrepreneurship). D) Natural resorces. Show Answer Correct Answer: B) Capital goods. 29. What is the purpose for tracking business cycles? A) To know when to open a small business. B) To predict future economic events and take action. C) To predict exactly when the national economy will suffer a crisis. D) To help with elections and keep politicians in office. Show Answer Correct Answer: B) To predict future economic events and take action. 30. Things that are made or grown and then sold. A) Goods. B) Productive. C) Service. D) None of above. Show Answer Correct Answer: A) Goods. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomics QuizzesEconomic Growth Quiz 1Economic Growth Quiz 2Economic Growth Quiz 3Economic Growth Quiz 4Economic Growth Quiz 5Economic Growth Quiz 6Economic Growth Quiz 7Economic Growth Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books