This quiz works best with JavaScript enabled. Home > Economics > Development > Growth > Economic Growth – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which government agency is in charge of developing and coordinating the Philippine Development Plan? A) National Economic Development Authority. B) Department of Public Works and Highways. C) Department of Trade and Industry. D) None of above. Show Answer Correct Answer: A) National Economic Development Authority. 2. Turkey invests 3 percent of its GDP into education for its citizens-which productive resource is this an example of? A) Standard of Living. B) Capital goods. C) Human capital. D) Enrepreneurship. Show Answer Correct Answer: C) Human capital. 3. Which point in the economic cycle denotes highest business and consumer confidence? A) Recovery. B) Peak. C) Boom. D) Trough. Show Answer Correct Answer: B) Peak. 4. Economic growth in India will happen necessarily if there is A) Population growth. B) Capital formation. C) Technical progress in the global economy. D) All the above. Show Answer Correct Answer: B) Capital formation. 5. Which country has invested capital goods toward oil and natural gas (energy sector)? A) Russia. B) Germany. C) United Kingdom. D) None of above. Show Answer Correct Answer: A) Russia. 6. Why does capital deepening work with human capital? A) Greater skill increases workers' output. B) Capital deepening means there is more money to hire workers. C) Human capital increases GDP. D) Capital deepening increases people's savings rate. Show Answer Correct Answer: A) Greater skill increases workers' output. 7. If the consumer price index (CPI) for year 2013 is equal to 180 and for year 2014 is equal to 198, calculate the inflation rate level in year 2014. A) 18%. B) 80%. C) 98%. D) 10%. Show Answer Correct Answer: D) 10%. 8. Why is real GDP considered a better measure of growth than nominal GDP? A) It includes non-economic factors. B) It includes inflation. C) It takes into account price changes. D) It shows the distribution of income in the economy. Show Answer Correct Answer: C) It takes into account price changes. 9. GDP at market prices that is not adjusted for inflation is called A) Real GDP. B) Potential GDP. C) Nominal GDP. D) None of above. Show Answer Correct Answer: C) Nominal GDP. 10. Having many entrepreneurs in a country will ..... that country's Gross Domestic Product. A) Decrease. B) Increase. C) Not affect. D) None of above. Show Answer Correct Answer: B) Increase. 11. Which of the following is a positive impact of tourism on the environment? A) Vandalism. B) Increased littering. C) Conservation of natural environments. D) Increased congestion. Show Answer Correct Answer: C) Conservation of natural environments. 12. India's economy grew up by approximately 7% in 2016. What must have increased in India in 2016? A) Rate of Inflation. B) The government's budget deficit. C) Labour Productivity. D) Gross Domestic Product. Show Answer Correct Answer: D) Gross Domestic Product. 13. What is NOT an economic indicator? A) Retail Sales. B) Equilibrium Price. C) Unemployment. D) GDP (Gross Domestic Product). Show Answer Correct Answer: B) Equilibrium Price. 14. What is a country's GDP divided by its population called? A) Cost per person. B) Divide per capita. C) GDP per divide. D) GDP per capita. Show Answer Correct Answer: D) GDP per capita. 15. Israel's literacy rate is 99%. What does this mean? A) 99% of Israeli adults are entrepreneurs. B) 99% of Israeli adults have a low standard of living. C) 99% of Israeli adults are unemployed. D) 99% of Israeli adults can read and write. Show Answer Correct Answer: D) 99% of Israeli adults can read and write. 16. Economic growth can be shown by A) Minimum efficient scale. B) Production possibility frontier. C) Gross Domestic frontier. D) Marginal consumption frontier. Show Answer Correct Answer: B) Production possibility frontier. 17. Sales of industrial equipment to foreign businesses A) Government spending. B) Investment. C) Exports. D) Consumption. Show Answer Correct Answer: C) Exports. 18. An outward shift in the PPC is analogous to a ..... shift of the long-run aggregate supply curve. A) Vertical. B) Leftward. C) Rightward. D) Indeterminate. Show Answer Correct Answer: C) Rightward. 19. What is capital goods? A) Skills and education that countries help you. B) A person who takes risk. C) Goods making more and better goods and services. D) A gift of nature. Show Answer Correct Answer: C) Goods making more and better goods and services. 20. Which of following statement is true about the Economic Growth A) It refers to increase in Gross Domestic Product (GDP). B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). C) It is characterized by fall in unemployment rate. D) Rise in GDP on monetary term. Show Answer Correct Answer: B) It refers to the long and sustained rise in real Gross Domestic Product (GDP). 21. What happens when countries have a low GPD A) They have weaker economies. B) They have no money. C) They fail at everything. D) They are higher than others. Show Answer Correct Answer: A) They have weaker economies. 22. The part of the economy owned and operated by the national government A) Profit. B) Natural Resource. C) Public Sector. D) Private Sector. Show Answer Correct Answer: C) Public Sector. 23. Able to read and write in one's native language. A) Natural Resource. B) Public sector. C) Literacy Rate. D) Literate. Show Answer Correct Answer: D) Literate. 24. How much share/assets can a foreign investor own for corporations in the Philippines in general? A) 40%. B) 50%. C) 60%. D) None of the above. Show Answer Correct Answer: A) 40%. 25. The capital spending of firms used to increase production and to expand the economy's productive capacity. A) Exports. B) Government spending. C) Investment. D) Imports. Show Answer Correct Answer: C) Investment. 26. America's ..... is calculated by adding up consumer spending, government spending, national investments and net exports. A) Per capita. B) Gross domestic product. C) Inflation. D) None of above. Show Answer Correct Answer: B) Gross domestic product. 27. Capital accumulation promotes economic A) Fairness. B) Standards. C) Growth. D) Freedom. Show Answer Correct Answer: C) Growth. 28. Which among the following countries would probably have the lowest HDI? A) Philippines. B) Singapore. C) Thailand. D) Malaysia. Show Answer Correct Answer: A) Philippines. 29. How can an economy create long run economic growth A) Decrease the cost of living. B) Improve the quality and/or quantity of it's factors of production. C) Lower the interest rate. D) Increase teacher's salaries. Show Answer Correct Answer: B) Improve the quality and/or quantity of it's factors of production. 30. Laissez faire is a belief that? A) The more government intervention the better. B) The economy and society will tend to do better with less or no government interference. C) Technology is the key to growth. D) None of the answers are correct. Show Answer Correct Answer: B) The economy and society will tend to do better with less or no government interference. ← 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