#1
Which of the following is considered a factor of production?
Labor
Money
Technology
Consumer goods
#2
Which of the following is NOT a characteristic of economic growth?
Increase in GDP
Decrease in unemployment
Increase in inflation
Rise in productivity
#3
What does the term 'capital' represent in economics?
Money and financial assets
Physical goods used in production
Human resources
Government investments
#4
Which of the following is a long-term determinant of economic growth?
Changes in tax rates
Technological progress
Consumer spending
Interest rates
#5
Which of the following is an example of human capital?
Factory machinery
Financial investments
Educational attainment
Raw materials
#6
What effect does an increase in savings rate typically have on economic growth?
Decreases economic growth
Has no effect on economic growth
Increases economic growth
Causes inflation
#7
Which of the following is NOT a factor affecting economic growth in the short run?
Changes in consumer spending
Fiscal policy decisions
Technological progress
Monetary policy actions
#8
Which of the following is NOT a component of infrastructure that affects economic growth?
Transportation networks
Educational institutions
Telecommunication systems
Financial markets
#9
What role does entrepreneurship play in economic growth?
It has no significant impact on economic growth
It decreases economic growth
It is a crucial driver of economic growth
It leads to inflation
#10
What is the Solow Growth Model primarily used for?
Predicting short-term fluctuations in GDP
Analyzing the effects of fiscal policy
Explaining long-run economic growth
Forecasting inflation rates
#11
What is the relationship between technological advancement and economic growth?
Technological advancement leads to economic growth
Economic growth leads to technological advancement
There is no relationship between the two
Technological advancement hinders economic growth
#12
In the context of economic growth, what does the 'Catch-Up Effect' refer to?
Developed countries catching up to developing countries
Developing countries catching up to developed countries
A decrease in economic growth rates
A sudden surge in technological innovation
#13
What is the relationship between education and economic growth?
Education has no impact on economic growth
Higher education levels lead to lower economic growth
Higher education levels lead to higher economic growth
Education leads to deflation
#14
What is the significance of foreign direct investment (FDI) in economic growth?
FDI has no impact on economic growth
FDI decreases economic growth
FDI leads to inflation
FDI can stimulate economic growth through capital inflows and technology transfer
#15
What role does trade openness play in economic growth?
Trade openness has no impact on economic growth
Trade openness decreases economic growth
Trade openness leads to inflation
Trade openness can stimulate economic growth through increased competition and specialization
#16
What is the role of property rights in fostering economic growth?
Property rights hinder economic growth
There is no relationship between property rights and economic growth
Strong property rights protections foster economic growth
Property rights lead to inflation