#1
Which of the following is not a measure of economic growth?
Consumer Price Index (CPI)
ExplanationCPI is an indicator of inflation, not economic growth.
#2
Which region has experienced the fastest economic growth in recent decades?
Asia-Pacific
ExplanationThe Asia-Pacific region has seen rapid economic growth.
#3
Which of the following is a characteristic of economic growth?
Decrease in the unemployment rate
ExplanationEconomic growth is often associated with a decrease in the unemployment rate.
#4
Which of the following is NOT a component of Gross Domestic Product (GDP)?
Foreign direct investment
ExplanationForeign direct investment is not a component of GDP.
#5
Which of the following countries is considered a 'developed' economy?
Sweden
ExplanationSweden is considered a 'developed' economy.
#6
Which of the following is an example of a non-renewable resource?
Coal
ExplanationCoal is an example of a non-renewable resource.
#7
What is the term for the total value of all goods and services produced within a country in a given period?
Gross Domestic Product (GDP)
ExplanationGross Domestic Product (GDP) represents the total value of goods and services produced within a country.
#8
What is the main goal of sustainable development?
Preserving environmental resources
ExplanationSustainable development aims to protect environmental resources for future generations.
#9
What does the Solow growth model primarily focus on?
Long-term economic growth
ExplanationThe Solow model emphasizes long-term economic growth factors.
#10
Which of the following is an example of a supply-side policy for promoting economic growth?
Reducing corporate taxes
ExplanationReducing corporate taxes is a supply-side policy to stimulate economic growth.
#11
Which country has the highest Gross Domestic Product (GDP) per capita?
Switzerland
ExplanationSwitzerland has the highest GDP per capita among countries.
#12
What is the name of the theory that suggests there are stages of economic growth through which societies progress?
Modernization theory
ExplanationModernization theory proposes stages of economic growth in societies.
#13
What is the main indicator used to measure income inequality within a country?
Gini coefficient
ExplanationThe Gini coefficient is the primary indicator for measuring income inequality.
#14
What is the 'trickle-down theory' in economics?
The belief that wealth generated by the rich benefits everyone in society.
ExplanationTrickle-down theory posits that wealth generated by the rich benefits the entire society.
#15
Which organization releases the World Development Report annually?
World Bank
ExplanationThe World Bank publishes the annual World Development Report.
#16
What is the significance of the 'Laffer curve' in economic policy?
It suggests the existence of an optimal tax rate for maximizing revenue.
ExplanationThe Laffer curve indicates an optimal tax rate for maximizing revenue.
#17
Which factor is considered a constraint to economic growth according to the Harrod-Domar model?
Saving and investment ratio
ExplanationThe Harrod-Domar model identifies the saving and investment ratio as a constraint to growth.
#18
Which of the following countries has experienced 'jobless growth' in recent years?
Japan
ExplanationJapan has witnessed 'jobless growth' in recent years.