#1
Which of the following is NOT a factor influencing economic growth?
Technological progress
Increased government spending
Access to capital
Political stability
#2
What does GDP stand for in economics?
Gross Domestic Product
Global Development Protocol
Government Development Plan
General Development Principle
#3
Which of the following is a component of human capital?
Physical infrastructure
Natural resources
Education and skills
Government regulations
#4
What is the formula for calculating economic growth rate?
Final GDP / Initial GDP
Final GDP - Initial GDP
(Final GDP - Initial GDP) / Initial GDP
(Final GDP - Initial GDP) * Initial GDP
#5
Which of the following is NOT a characteristic of economic growth?
Increase in the quantity of goods and services produced
Improvement in the standard of living
Decrease in unemployment rates
Rise in inflation rates
#6
Which theory suggests that economic growth will eventually cease due to limited resources?
Solow-Swan Model
Endogenous Growth Theory
Malthusian Theory
Harrod-Domar Model
#7
What is the main characteristic of a developed economy?
High income inequality
Large informal sector
High GDP per capita
Dependence on primary sector
#8
Which of the following is a characteristic of sustainable economic growth?
Excessive depletion of natural resources
High unemployment rates
Stable inflation
High income inequality
#9
What role does entrepreneurship play in economic growth?
It leads to resource misallocation
It hinders technological progress
It fosters innovation and job creation
It increases government intervention
#10
What is the relationship between economic growth and inflation?
Economic growth always leads to inflation
Inflation always leads to economic growth
There is no relationship between economic growth and inflation
There can be a positive or negative relationship depending on various factors
#11
Which of the following is an example of a supply-side policy aimed at promoting economic growth?
Increasing government spending on infrastructure
Cutting taxes on businesses
Increasing unemployment benefits
Implementing price controls
#12
What is the difference between economic growth and economic development?
There is no difference, they are synonymous
Economic growth refers to an increase in GDP, while economic development encompasses broader aspects such as improvement in living standards, education, and healthcare
Economic growth focuses on reducing poverty, while economic development focuses on increasing government spending
Economic growth pertains to developed countries, while economic development is relevant to developing countries
#13
What is the 'Big Push' theory in economic development?
It suggests that economic development can be achieved through a combination of small-scale projects
It proposes a coordinated effort to invest in multiple sectors simultaneously to overcome underdevelopment traps
It advocates for relying solely on market forces to achieve economic growth
It emphasizes the role of international aid in fostering economic development
#14
What is the name of the economic principle that states an increase in a country's real GDP per capita over time leads to an increase in quality of life?
The Gini coefficient
The Lorenz curve
The Kuznets curve
The Easterlin paradox
#15
Which of the following is a measure of economic growth that accounts for changes in population?
Gross Domestic Product (GDP)
Gross National Product (GNP)
Net Domestic Product (NDP)
Gross Domestic Product per capita (GDP per capita)
#16
Which of the following best describes the 'Resource Curse'?
Abundance of resources leads to economic growth
Rapid depletion of resources causing economic collapse
Overreliance on natural resources hampers economic development
Efficient utilization of resources for sustained economic growth
#17
Which of the following is NOT a policy measure to promote economic growth?
Monetary tightening
Investment in education
Tax incentives for businesses
Restrictions on international trade
#18
According to the Harrod-Domar model, what is the key to achieving economic growth?
High levels of saving and investment
Government intervention in the market
Technological innovation
Increased government spending
#19
Which of the following factors is NOT considered a constraint on economic growth?
Limited access to credit
High levels of government debt
Technological advancement
Corruption
#20
What is the role of foreign direct investment (FDI) in economic growth?
FDI always leads to economic growth
FDI has no impact on economic growth
FDI can stimulate economic growth by bringing in capital, technology, and management skills
FDI only benefits multinational corporations and not the host country
#21
Which sector typically contributes the most to GDP in developed economies?
Primary sector (agriculture)
Secondary sector (manufacturing)
Tertiary sector (services)
Quaternary sector (information services)
#22
What is the Kuznets Curve hypothesis?
It suggests that income inequality decreases as a country develops economically
It proposes that income inequality first increases and then decreases over the course of economic development
It argues that income inequality remains constant regardless of economic development
It states that income inequality is unrelated to economic growth
#23
What is the role of infrastructure in economic growth?
Infrastructure has no impact on economic growth
Infrastructure can hinder economic growth by increasing costs
Infrastructure is essential for economic growth as it facilitates transportation, communication, and trade
Infrastructure only benefits urban areas and does not contribute to rural economic development
#24
What is the name of the process by which underdeveloped countries acquire the characteristics of developed countries?
Economic convergence
Economic divergence
Structural transformation
Economic polarization
#25
Which of the following factors is considered a supply-side determinant of economic growth?
Government spending
Investment in human capital
Monetary policy
Fiscal policy