This quiz works best with JavaScript enabled. Home > Economics > Development > Growth > Economic Growth – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 12 (27 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which is an example of investing in capital goods by a company? A) Constructing a new factory. B) Keeping old computers in order to save money. C) Training workers to do their jobs better. D) Keeping old delivery trucks. Show Answer Correct Answer: A) Constructing a new factory. 2. Nonprofit service cooperative that accepts deposits, makes loans, and provides other financial services A) Credit union. B) Premium. C) Risk. D) Financial assets. Show Answer Correct Answer: A) Credit union. 3. An entrepreneur needs to be innovative. What does that word mean? A) A person who is static (not a constant learner). B) A follower. C) Comes up with new ideas. D) A risk taker. Show Answer Correct Answer: C) Comes up with new ideas. 4. 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. 5. Consumption tax was raised from ..... ? A) 2%-5%. B) 10%-12%. C) 5%-8%. D) 4%-6%. Show Answer Correct Answer: C) 5%-8%. 6. The number of adults who are able to read and write in a country is the ..... A) GNI. B) Per capita rate. C) Proportion of labor. D) Literacy rate. Show Answer Correct Answer: D) Literacy rate. 7. 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). 8. 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. 9. The Human Development Index uses all these indicators to measure the human standard of living EXCEPT: A) Per capita income (GDP divided by population). B) Life expectancy. C) Level of education (mean years of schooling). D) Electricity access. Show Answer Correct Answer: D) Electricity access. 10. Using money to create a new capital good A) Real investment. B) Captial gain. C) Venture capital. D) Capital accumulation. Show Answer Correct Answer: A) Real investment. 11. The forecast of Germany's GDP growth in 2013 was 1.5%.What might cause economic growth? A) An increase in unemployment. B) An increase in productivity. C) An increase in interest rates. D) AN increase in imports. Show Answer Correct Answer: B) An increase in productivity. 12. The extent to which workers can switch between jobs A) Occupational mobility. B) Investment expenditure. C) Geographical mobility. D) Productivity. Show Answer Correct Answer: A) Occupational mobility. 13. Total value of all goods and services produced in a country A) Disgusting Domestic Produce (DDP). B) Independent Produced Product (IPP). C) Gross Domestic Product (GDP). D) Developmental Products (DP). Show Answer Correct Answer: C) Gross Domestic Product (GDP). 14. High levels of GDP per capita imply A) High levels of happiness. B) High material standards of living. C) Equal levels of wealth. D) Self-sufficient communities. Show Answer Correct Answer: B) High material standards of living. 15. How are entrepreneurs important to a country's growth? A) Entrepreneurs provide compulsory education. B) Entrepreneurs strengthen governmental control. C) Entrepreneurs create new markets that provide jobs. D) Entrepreneurs provide political stability. Show Answer Correct Answer: C) Entrepreneurs create new markets that provide jobs. 16. The money a person has available after taxes have been pd A) Disposable income. B) Income per captia. C) Fixed income. D) Pre-taxed income. Show Answer Correct Answer: A) Disposable income. 17. This language family has the most native speakers. A) Germanic. B) Slavic. C) Italian. D) Romance. Show Answer Correct Answer: A) Germanic. 18. Represent the aspect of the Trade Cycle that shows the average over the viewed GNP over time. A) Boom. B) Slump. C) Recession. D) Trend. Show Answer Correct Answer: D) Trend. 19. If a nation's GDP per capita rises from $ 32 500 to $ 32 800 the rate of economic growth is A) 0.91%. B) 3%. C) 0.92%. D) 9.2%. Show Answer Correct Answer: C) 0.92%. 20. The things that nations invest in to increase productivity and manufacture things more efficiently are ..... A) Capital goods. B) Natural resources. C) Trade barriers. D) Gross Domestic Product. Show Answer Correct Answer: A) Capital goods. 21. Which countries have the highest unenployment rates? A) Greece. B) Portugal. C) Spain. D) Romania. Show Answer Correct Answer: A) Greece. 22. A product of the earth (gift of nature) that people use to meet their needs is a what? A) Natural resource. B) Service. C) Good. D) Free enterprise. Show Answer Correct Answer: A) Natural resource. 23. Which of the following economies make use of export promotion? A) Singapore. B) Philippines. C) Saudi Arabia. D) United States of America. Show Answer Correct Answer: A) Singapore. 24. What does productive capacity mean? A) The rate an economy is growing. B) The amount of goods and services produced. C) The maximum possible output of an economy. D) There is no unemployment. Show Answer Correct Answer: C) The maximum possible output of an economy. 25. The total value of goods and services produced in a country in a year is called the ..... A) GDP. B) ZXY. C) XYZ. D) PGA. Show Answer Correct Answer: A) GDP. 26. The value that a worker brings to the marketplace (his/her job) is called ..... A) Capital goods. B) Human capital. C) Entrepreneur. D) Natural resources. Show Answer Correct Answer: B) Human capital. 27. A sustained general increase in prices across an economy. A) Deflation. B) Consumer Price Index. C) Disinflation. D) Inflation. Show Answer Correct Answer: D) Inflation. ← PreviousRelated 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