Technology, Economics, and Their Interconnection Quiz
Test your knowledge with this quiz on macroeconomic indicators, fiscal policy, technological innovation, and more!
#1
Which of the following is an example of a macroeconomic indicator?
Gross Domestic Product (GDP)
Computer Processor Speed
File Compression Ratio
RAM Size
#2
What does the term 'disruptive technology' refer to?
Technology that enhances existing products or services
Technology that brings a significant shift in the market or industry
Technology that is easy to adopt and implement
Technology that has minimal impact on the economy
#3
Which of the following is an example of a renewable energy source?
Natural Gas
Coal
Solar Power
Nuclear Power
#4
What is the primary goal of technological innovation?
To increase the cost of production
To reduce efficiency
To improve productivity and create value
To hinder economic growth
#5
Which economic system is characterized by private ownership of the means of production and free market competition?
Socialism
Capitalism
Communism
Feudalism
#6
Which economic concept refers to the total value of goods and services produced within a country in a given period?
Inflation Rate
Trade Deficit
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
#7
What is the main objective of fiscal policy?
To control the money supply and interest rates
To regulate international trade and commerce
To influence the economy through government spending and taxation
To promote entrepreneurship and innovation
#8
What is the concept of 'opportunity cost' in economics?
The cost of purchasing goods and services
The cost of producing one additional unit of a good or service
The cost of forgoing the next best alternative when making a decision
The cost of borrowing money
#9
What is the role of a central bank in an economy?
To control the government budget
To regulate and supervise financial institutions
To set prices of goods and services
To provide subsidies to industries
#10
What economic term describes a situation where the quantity demanded for a product exceeds the quantity supplied?
Surplus
Shortage
Equilibrium
Deficit
#11
Which economic theory emphasizes the importance of government intervention to stabilize the economy?
Supply-side economics
Classical economics
Keynesian economics
Austrian economics
#12
What is the term used to describe the practice of outsourcing tasks or services to a third-party provider, often located overseas?
Offshoring
Domestication
Onshoring
Insourcing
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