#1
Which term describes the shift of populations from rural areas to urban areas?
Urbanization
Ruralization
Suburbanization
Industrialization
#2
What is one of the primary causes of income inequality worldwide?
Natural disasters
Technological advancements
Government policies
Population growth
#3
Which organization oversees international trade agreements and dispute resolutions?
World Bank
International Monetary Fund
World Trade Organization
United Nations
#4
What is the term used to describe the process of privatizing state-owned enterprises?
Nationalization
Deregulation
Socialization
Privatization
#5
Which economic indicator measures the average prices of goods and services in an economy?
GDP per capita
Unemployment rate
Inflation rate
Interest rate
#6
Which international organization is responsible for providing loans to developing countries?
United Nations Development Programme (UNDP)
World Bank
International Monetary Fund (IMF)
Organization for Economic Cooperation and Development (OECD)
#7
Which economic theory advocates for minimal government intervention in the economy?
Keynesian economics
Monetarism
Neoliberalism
Marxism
#8
What is a key feature of the 'informal economy'?
Highly regulated transactions
Formal contracts and agreements
Government oversight
Unregulated or unregistered economic activities
#9
What is the primary goal of sustainable development?
Maximizing economic growth
Minimizing social equity
Preserving environmental resources
Exploiting natural resources
#10
Which of the following is a characteristic of a mixed economy?
Private ownership of all resources
Centralized planning by the government
Lack of competition
Combination of private and public ownership
#11
What is a characteristic of a command economy?
Minimal government intervention
Centralized planning
Market-driven resource allocation
Private ownership of production
#12
Which economic theory advocates for government spending to stimulate economic growth during recessions?
Monetarism
Supply-side economics
Keynesian economics
Austrian economics
#13
Which region has experienced rapid economic growth dubbed the 'Asian Miracle'?
North America
Europe
Latin America
East Asia
#14
What is the main purpose of a sovereign wealth fund?
Stimulating inflation
Providing social welfare benefits
Investing excess reserve funds
Funding military operations
#15
What is a characteristic of a traditional economy?
Private ownership of resources
Use of modern technology
Adherence to cultural customs
Highly developed financial markets
#16
In economics, what is the term for the ratio of the quantity of output to the quantity of input?
Productivity
Utility
Efficiency
Equilibrium
#17
What does the 'Laffer curve' illustrate in economics?
Relationship between tax rates and tax revenue
Demand and supply equilibrium
Consumer spending patterns
Production possibilities frontier