This quiz works best with JavaScript enabled. Home > Economics > Development > Growth > Economic Growth – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 7 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the ultimate effect of capital deepening? A) Increased wages from demand for workers. B) Increased Demand for machines. C) Increased factors of production. D) Stable GDP per capita. Show Answer Correct Answer: A) Increased wages from demand for workers. 2. This language family came from the ancient Roman Empire. A) Romance. B) Slavic. C) English. D) Germanic. Show Answer Correct Answer: A) Romance. 3. The degree to which an individual is healthy, comfortable, and able to participate in or enjoy life events A) Quality of Life. B) Economic Growth. C) Standard of Living. D) Economic Development. Show Answer Correct Answer: A) Quality of Life. 4. Doing or making a lot. A) Productive. B) Net. C) Per capita. D) None of above. Show Answer Correct Answer: A) Productive. 5. The following information is taken from the national accounts of Zambibia:C = R200 millionI = R50 millionG = R150 millionX = R200 millionM = R180 millionGross Domestic Product is A) R380 million. B) R420 million. C) R600 million. D) R400 million. Show Answer Correct Answer: B) R420 million. 6. Steve Jobs created the technology company Apple, Inc. Which is an example of which economic growth aspect? A) Capital Goods. B) Tariff. C) Entrepreneurship. D) Specialization. Show Answer Correct Answer: C) Entrepreneurship. 7. The total GDP divided by the population of the said country A) Nominal GDP. B) Ceteris paribus. C) Real GDP. D) GDP per capita. Show Answer Correct Answer: D) GDP per capita. 8. If Canada wanted increase the value of its "human capital, " which of these would be the BEST course of action? A) Increase the amount of oil exports. B) Build more factories. C) Increase funding to public schools. D) Reach a trade agreement with the United States. Show Answer Correct Answer: C) Increase funding to public schools. 9. Italian, French, and Spanish are members of this language family. A) Germanic. B) Slavic. C) English. D) Romance. Show Answer Correct Answer: D) Romance. 10. Which region of Europe has countries with higher GDP per capita? A) Eastern Europe. B) Western Europe. C) Southern Europe. D) Northern Europe. Show Answer Correct Answer: B) Western Europe. 11. Chalk and gypsum deposits found in the United Kingdom are sources of what type of resource? A) A capital resource. B) Entrepreneurship. C) A natural resource. D) Human capital. Show Answer Correct Answer: C) A natural resource. 12. The total value of all final goods and services produced in a country in a given year. A) Gross Domestic Product. B) Inflation. C) Consumer Price Index. D) Unemployment. Show Answer Correct Answer: A) Gross Domestic Product. 13. The performance of a duty or work for another person. A) Import. B) Service. C) Goods. D) None of above. Show Answer Correct Answer: B) Service. 14. What are some of the economical problems the pandemic brought? A) Financial marketing volatility and disruption to industrial production. B) Rapid devaluation of a currency. C) Raise in the cost of products. D) None of above. Show Answer Correct Answer: A) Financial marketing volatility and disruption to industrial production. 15. Brazil is building new factories and using newer technology. These are examples of ..... A) Investment in human capital. B) Gross domestic product. C) Investment in capital goods. D) Opportunity costs. Show Answer Correct Answer: C) Investment in capital goods. 16. The total consumption and investment expenditure of the government A) Investment. B) Exports. C) Government spending. D) Consumption. Show Answer Correct Answer: C) Government spending. 17. The process of making goods and services A) Economics. B) Production. C) Distribution. D) Consumption. Show Answer Correct Answer: B) Production. 18. When a company buys new computers for their business, what is this an example of: A) Imports. B) Investments. C) Consumption. D) Exports. Show Answer Correct Answer: B) Investments. 19. What is NOT a cost of the purchase, use, and disposal of personal and business property? A) Opportunity cost of what was not purchased. B) Associated cost with upkeep of property. C) Potential profit at sale. D) Possible loss of value of property and loss at the time of sale. Show Answer Correct Answer: C) Potential profit at sale. 20. Which country voted to leave the European Union? A) France. B) Germany. C) United Kingdom. D) Ireland. Show Answer Correct Answer: C) United Kingdom. 21. How many countries currently make up the EU? A) 27. B) 14. C) 3. D) 37. Show Answer Correct Answer: A) 27. 22. In order to better communicate with people from other countries, most Europeans learn to speak ..... as a second language. A) German. B) French. C) Spanish. D) English. Show Answer Correct Answer: D) English. 23. When did the Lost Decade begin? A) 1960's. B) 1990's. C) 1980's. D) 1970's. Show Answer Correct Answer: B) 1990's. 24. Which of these is NOT a consequence of economic growth A) Improved living standards. B) Increase in income. C) Increase in unemployment. D) Consumption of more luxury products. Show Answer Correct Answer: C) Increase in unemployment. 25. GDP is the total value of goods and services A) Produced all over the world. B) Produced in one month. C) Produced within a nation's borders. D) Produced by a singl company. Show Answer Correct Answer: C) Produced within a nation's borders. 26. What improves peoples' living standards? A) Having more money. B) Being able to buy more goods and services. C) Having a command style economy. D) Having more businesses. Show Answer Correct Answer: B) Being able to buy more goods and services. 27. Which country has invested capital goods in the automotive industry? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: B) Germany. 28. ..... typically refers to improvements in a variety of indicators such as literacy rates, life expectancy, and poverty rates. A) Economic Standards. B) Economic Growth. C) Economic Development. D) Economic Measurement. Show Answer Correct Answer: C) Economic Development. 29. Estimated total value of goods and services produced in nation in a years time: A) Wage. B) Per Capita. C) Entrepreneurship. D) Gross Domestic Product. Show Answer Correct Answer: D) Gross Domestic Product. 30. Which country specializes in fishing? A) United Kingdom. B) Russia. C) Germany. D) None of above. Show Answer Correct Answer: A) United Kingdom. ← 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 8Economic Growth Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books