#1
Which of the following is NOT a factor that contributes to economic growth?
Increase in labor force
Technological advancements
Decrease in productivity
Investment in infrastructure
#2
What does GDP stand for?
Gross Domestic Product
Gross Domestic Profit
Global Domestic Product
Government Development Plan
#3
What is the name for the period of economic decline during which trade and industrial activity are reduced?
Recession
Depression
Expansion
Stagnation
#4
What is the primary objective of fiscal policy?
To control inflation
To regulate the money supply
To manage government spending and taxation
To influence interest rates
#5
What is the term used to describe the total value of goods and services produced within a country in a given period of time?
Gross National Product (GNP)
Gross Domestic Product (GDP)
Net National Product (NNP)
Net Domestic Product (NDP)
#6
Which economic indicator measures the average changes in prices received by producers of goods and services over time?
Consumer Price Index (CPI)
Producer Price Index (PPI)
Gross Domestic Product (GDP)
Unemployment Rate
#7
What is the formula for calculating economic growth rate?
Final GDP - Initial GDP
(Final GDP - Initial GDP) / Initial GDP
Final GDP / Initial GDP
(Final GDP - Initial GDP) * 100
#8
What is the relationship between economic growth and standard of living?
They are unrelated
Economic growth leads to a decrease in standard of living
Economic growth leads to an increase in standard of living
Standard of living leads to economic growth
#9
Which of the following is a measure of income inequality?
Gini coefficient
Consumer Price Index
Gross Domestic Product
Inflation rate
#10
Which of the following factors is most likely to contribute to long-term economic growth?
Short-term government subsidies
Increased consumer debt
Investment in education and infrastructure
Decrease in labor force participation
#11
Which of the following is an example of a leading economic indicator?
Gross Domestic Product (GDP)
Unemployment Rate
Consumer Confidence Index
Inflation Rate
#12
Which of the following is NOT a characteristic of sustainable economic growth?
High unemployment rate
Low inflation rate
Environmental conservation
Income equality
#13
What does the term 'trickle-down economics' refer to?
An economic theory that emphasizes reducing taxes on the wealthy to stimulate investment and economic growth
An economic theory that emphasizes increasing social welfare programs to reduce income inequality
An economic theory that emphasizes increasing government spending to boost demand and stimulate economic growth
An economic theory that emphasizes reducing government regulations to promote entrepreneurship and innovation
#14
What is the primary focus of supply-side economics?
Stimulating demand through government spending
Stimulating supply through tax cuts and deregulation
Controlling inflation through monetary policy
Controlling unemployment through fiscal policy
#15
What does the term 'stagflation' refer to?
A period of low inflation and high economic growth
A period of high inflation and high economic growth
A period of high inflation and stagnant economic growth
A period of low inflation and stagnant economic growth
#16
Which economic theory advocates for minimal government intervention in the economy?
Keynesian economics
Monetarism
Classical economics
Neo-Keynesian economics
#17
What does the term 'Laffer curve' refer to in economics?
A curve representing the relationship between inflation and unemployment.
A curve representing the relationship between government spending and tax revenue.
A curve representing the relationship between interest rates and investment.
A curve representing the relationship between income tax rates and tax revenue.