#1
Which of the following is a key indicator of economic growth?
High inflation rates
Decrease in GDP
Rising unemployment
Increase in GDP
#2
What is the main goal of industrialization in an economy?
To reduce unemployment
To increase environmental pollution
To boost economic growth
To decrease technological advancements
#3
What is the term for the total value of all goods and services produced by a country in a specific time period?
Gross National Product (GNP)
Gross Domestic Product (GDP)
Net National Product (NNP)
National Income (NI)
#4
Which of the following is a characteristic of a developed economy?
High unemployment rates
Low standard of living
High per capita income
Reliance on subsistence farming
#5
What is the term for the total market value of all final goods and services produced within a country in a given period of time?
Gross National Product (GNP)
Net National Product (NNP)
Gross Domestic Product (GDP)
National Income (NI)
#6
Which economic theory advocates for minimal government intervention in the market?
Keynesian economics
Monetarism
Classical economics
Marxian economics
#7
What is the term used to describe the transition from an agrarian society to an industrial one?
Technological revolution
Industrial revolution
Economic transformation
Agricultural evolution
#8
What is the Solow Growth Model used to explain?
Inflation rates
Technological advancements
Economic growth over time
Monetary policy effects
#9
Which sector typically experiences the initial stages of industrialization in an economy?
Agricultural sector
Service sector
Manufacturing sector
Financial sector
#10
What is the role of entrepreneurship in fostering economic growth?
Stagnates growth
Hinders innovation
Drives innovation and creates jobs
Increases government intervention
#11
Which factor is considered a crucial driver of long-term economic growth?
Government regulations
Technological innovation
Short-term monetary policies
Income redistribution
#12
According to the Lewis Dual Sector Model, what is the role of the 'unlimited supply of labor' in the process of industrialization?
Hinders industrialization
Accelerates industrialization
Has no impact on industrialization
Stabilizes industrialization
#13
What is the primary focus of Human Development Index (HDI) as an economic indicator?
Economic growth only
Income distribution only
Quality of life and well-being
Industrial output only
#14
Which country is often cited as an example of rapid industrialization in East Asia during the late 20th century?
#15
In the context of industrialization, what does the term 'deindustrialization' refer to?
Shift from manufacturing to services
Expansion of manufacturing sector
Increased agricultural production
Technological advancements in industry