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Economic Growth Quiz 5 (30 MCQs)

Quiz Instructions

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1. How does improving technology help the economy?
2. Which of the following will likely raise the GDP of a country?
3. Improving the economic situation $\rightarrow$ better lives for people
4. GDP is a measure of
5. Which economy answers the basic economic questions by following customs and habits of the past?
6. What are the four types of economies?
7. Increased financial rewards would be included in which measure of economic growth?
8. Consequences of Import Substitution
9. Spending by businesses replacing old machinery
10. Fund that collects and invests income until payments are made
11. What is meant by economic growth?
12. The GDP (Gross Domestic Product) is:
13. If you traveled from London, England to Moscow, Russia, which two language families would you come in contact with?
14. Which factor is being described in the following list:oil, plants, water, gold?
15. A state paying for a student to become a doctor to work in a local hospital is an example of .....
16. If someone says that Japan's citizens make an average of $ 48, 919 a year, they are describing Japan's .....
17. If someone says that the country of China is worth over $ 12 trillion dollars, they are talking about their
18. Remaining after deducting taxes and other expenses.
19. The alternative combinations of final goods and services that could be produced, in a given time period with available resources and technology, are known as
20. If GDP increased from $ 3685 million to $ 3791 million in 1 year, what is the economic growth rate? (Note:the formula is the change divided by the original value, x 100.)
21. Which country's economy is closest to a command economy?
22. When a country invests in new machinery, technology, and factories, it is increasing its:
23. This language family is spoken in Russia and other eastern European countries
24. The knowledge, skills, and relative health of a nation's labor force/
25. What does obsolete mean? This is what describes North Korea's capital goods.
26. In a recession, the curve of the GNP is
27. Why may GDP not be a good measure to compare the living standard of two countries?
28. What was the main source of making money for the people of Gulf between 19th and 20th century?
29. All of the following make up the human development index EXCEPT
30. The part of the economy owned and operated by private citizens.
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