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Economic Development and Growth

This quiz covers the concepts related to Economic Development and Growth, which is a branch of economics that focuses on the factors that contribute to the long-term growth of economies.

14 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

Which of the following is NOT a factor that contributes to economic growth?

  1. Investment
  2. Savings
  3. Inflation
  4. Technology
Question 2 Multiple Choice (Single Answer)

Gross Domestic Product (GDP) is a measure of the:

  1. Total value of goods and services produced in a country in a given period
  2. Total value of goods and services consumed in a country in a given period
  3. Total value of goods and services exported from a country in a given period
  4. Total value of goods and services imported into a country in a given period
Question 3 Multiple Choice (Single Answer)

Gross National Product (GNP) is a measure of the:

  1. Total value of goods and services produced by a country's residents, regardless of their location
  2. Total value of goods and services produced within a country's borders, regardless of the nationality of the producers
  3. Total value of goods and services consumed by a country's residents, regardless of their location
  4. Total value of goods and services exported from a country, regardless of the nationality of the producers
Question 4 Multiple Choice (Single Answer)

Human capital refers to the:

  1. Stock of knowledge, skills, and abilities possessed by a population
  2. Stock of physical capital possessed by a population
  3. Stock of natural resources possessed by a population
  4. Stock of financial capital possessed by a population
Question 5 Multiple Choice (Single Answer)

Infrastructure refers to the:

  1. Physical structures and facilities that support the functioning of an economy
  2. Stock of knowledge, skills, and abilities possessed by a population
  3. Stock of natural resources possessed by a population
  4. Stock of financial capital possessed by a population
Question 6 Multiple Choice (Single Answer)

Technology refers to the:

  1. Application of scientific knowledge for practical purposes
  2. Stock of knowledge, skills, and abilities possessed by a population
  3. Stock of natural resources possessed by a population
  4. Stock of financial capital possessed by a population
Question 7 Multiple Choice (Single Answer)

Investment refers to the:

  1. Use of resources to create new capital goods
  2. Use of resources to create new consumer goods
  3. Use of resources to create new natural resources
  4. Use of resources to create new financial assets
Question 8 Multiple Choice (Single Answer)

Savings refers to the:

  1. Portion of income that is not spent on consumption
  2. Portion of income that is spent on consumption
  3. Portion of income that is invested in capital goods
  4. Portion of income that is invested in financial assets
Question 9 Multiple Choice (Single Answer)

Economic growth can be measured by the:

  1. Rate of change in real GDP
  2. Rate of change in real GNP
  3. Rate of change in the consumer price index
  4. Rate of change in the unemployment rate
Question 10 Multiple Choice (Single Answer)

The Harrod-Domar model is a:

  1. Model of economic growth that emphasizes the role of investment and savings
  2. Model of economic growth that emphasizes the role of technology and innovation
  3. Model of economic growth that emphasizes the role of human capital and education
  4. Model of economic growth that emphasizes the role of infrastructure and public works
Question 11 Multiple Choice (Single Answer)

The Solow model is a:

  1. Model of economic growth that emphasizes the role of technology and innovation
  2. Model of economic growth that emphasizes the role of human capital and education
  3. Model of economic growth that emphasizes the role of infrastructure and public works
  4. Model of economic growth that emphasizes the role of natural resources and environmental sustainability
Question 12 Multiple Choice (Single Answer)

The Lewis model is a:

  1. Model of economic growth that emphasizes the role of the agricultural sector
  2. Model of economic growth that emphasizes the role of the industrial sector
  3. Model of economic growth that emphasizes the role of the service sector
  4. Model of economic growth that emphasizes the role of the government sector
Question 13 Multiple Choice (Single Answer)

The Rostow model is a:

  1. Model of economic growth that emphasizes the role of stages of development
  2. Model of economic growth that emphasizes the role of structural change
  3. Model of economic growth that emphasizes the role of technological change
  4. Model of economic growth that emphasizes the role of institutional change
Question 14 Multiple Choice (Single Answer)

The Kuznets curve is a:

  1. Graph that shows the relationship between economic growth and income inequality
  2. Graph that shows the relationship between economic growth and environmental degradation
  3. Graph that shows the relationship between economic growth and technological change
  4. Graph that shows the relationship between economic growth and institutional change
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