Factors Influencing Economic Development Quiz

Test your knowledge of development economics with questions on GDP, human capital, economic indicators, and more. Explore key theories and factors!

#1

Which of the following is a basic economic resource?

Money
Labor
Technology
Market
#2

Which of the following is a characteristic of a developed economy?

High unemployment rate
Low standard of living
High per capita income
Limited infrastructure
#3

What is the term for the percentage of the working-age population that is willing and able to work and is actively seeking employment?

Labor force participation rate
Unemployment rate
Underemployment rate
Employment-population ratio
#4

What is the term for a situation where a country's exports exceed its imports, leading to a surplus in the balance of trade?

Trade deficit
Trade surplus
Current account deficit
Current account surplus
#5

What does GDP stand for in economics?

Gross Domestic Product
Global Development Policy
Government Debt Percentage
Goods Distribution Process
#6

Which factor is NOT considered a component of human capital?

Education
Health
Financial Assets
Skills and Knowledge
#7

In the context of economic development, what does the term 'FDI' stand for?

Foreign Development Index
Financial Development Indicator
Foreign Direct Investment
Fiscal Development Initiative
#8

Which economic indicator is often used to measure income inequality within a country?

Gini coefficient
Consumer Price Index (CPI)
Unemployment rate
Gross National Product (GNP)
#9

Which economic system is characterized by private ownership of the means of production, profit motives, and market competition?

Socialism
Communism
Capitalism
Feudalism
#10

In the context of economic development, what is 'brain drain'?

The loss of intellectual property
A decline in education standards
Migration of highly skilled individuals abroad
Decrease in research and development funding
#11

What is the term for a situation where prices for goods and services continue to rise?

Deflation
Stagnation
Inflation
Recession
#12

According to the Harrod-Domar model, what is the key determinant of economic growth?

Population growth
Capital accumulation
Technological innovation
Government intervention
#13

What is the term for the total value of goods and services produced within a country's borders in a specific time period?

Gross National Product (GNP)
Net Domestic Product (NDP)
Gross Domestic Product (GDP)
Net National Income (NNI)
#14

Which economic theory emphasizes the importance of supply-side policies, such as tax cuts and deregulation, to stimulate economic growth?

Monetarism
Keynesianism
Neoliberalism
Marxism
#15

Which of the following is an example of an economic indicator that reflects the overall health of an economy?

Stock market index
Consumer confidence index
Both a and b
None of the above
#16

According to the Solow-Swan model, what is the primary driver of long-term economic growth?

Technological progress
Capital accumulation
Labor force expansion
Government spending

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