#1
Which of the following is a key indicator of economic growth?
Decrease in GDP per capita
Increase in unemployment rate
Rise in real GDP
Reduction in inflation rate
#2
Which of the following factors can contribute to economic growth?
Decrease in government spending
Increase in income inequality
Expansion of international trade
Reduction in education funding
#3
What is the main difference between economic growth and economic development?
Economic growth focuses on quantity, while economic development focuses on quality.
Economic growth is a short-term process, while economic development is a long-term process.
Economic growth refers to an increase in GDP, while economic development refers to improvements in living standards.
Economic growth is measured by the Gini coefficient, while economic development is measured by the Human Development Index.
#4
What is the role of entrepreneurship in economic growth?
It has no significant impact on economic growth
It leads to increased competition and slows down economic growth
It fosters innovation, creates jobs, and drives economic growth
It only benefits large corporations and does not contribute to economic growth
#5
Which of the following is a measure of economic growth that accounts for changes in population?
Real GDP
Nominal GDP
GDP per capita
Gross National Product
#6
What is the primary driver of economic growth in modern economies?
Government regulations
Technological innovation
Consumer spending
Labor force participation
#7
Which sector typically contributes the most to GDP in developed economies?
Primary sector
Secondary sector
Tertiary sector
Quaternary sector
#8
What is a common measure of economic growth per capita?
GNP (Gross National Product)
GNI (Gross National Income)
GDP (Gross Domestic Product)
PPP (Purchasing Power Parity)
#9
What is the Solow Growth Model used to explain?
The impact of inflation on economic growth
The relationship between population growth and economic output
The determinants of long-run economic growth
The effects of government policies on economic development
#10
Which of the following is a potential consequence of rapid economic growth?
Decrease in income inequality
Increased environmental degradation
Lower unemployment rates
Stable consumer prices
#11
What role does human capital play in economic growth?
It has no significant impact on economic growth
It is a major driver of economic growth through innovation and productivity
It slows down economic growth due to increased labor costs
It only affects short-term economic growth but not long-term growth
#12
Which of the following is NOT a characteristic of sustained economic growth?
Stable inflation rate
Decreasing productivity
Rising standard of living
Technological advancement
#13
Which economic theory suggests that economic growth is primarily driven by increasing returns to scale?
Neoclassical Growth Theory
Endogenous Growth Theory
Classical Growth Theory
New Growth Theory
#14
Which of the following is NOT a potential constraint on economic growth?
Lack of infrastructure
Political stability
Limited access to credit
Abundant natural resources
#15
What is the term used to describe the maximum level of output an economy can sustain over the long term?
GDP per capita
Full employment output
Natural rate of output
Equilibrium level of output
#16
What does the term 'convergence' refer to in the context of economic growth?
The tendency for poorer countries to catch up to richer countries in terms of economic growth
The process of countries becoming more economically isolated
The idea that economic growth is unsustainable in the long run
The tendency for developed countries to experience diminishing returns to capital