Production and growth
Test Your Knowledge on Production and Growth
Welcome to the Production and Growth Quiz! This engaging assessment is designed to evaluate your understanding of essential economic concepts related to production, growth, and their impact on society. With 10 thoughtfully crafted multiple-choice questions, you’ll gain insights into how economies operate and what drives their success.
Key Topics Covered:
- GDP and Productivity
- Economic Growth Strategies
- Technological Progress
- Population Dynamics and Their Effects
An increase in the amount of goods and services produced in the economy is an increase in
Nominal GDP
Real GDP
Inflation
None above
Suppose that three workers can produce $180 worth of toys. The productivity is
$180
$60
$540
Cannot tell
Government can increase economic growth by encouraging
Population growth
Diminishing return
Investment
Natural resource
Economics compare how rich or poor different nations are by measuring their
GDP
Per capita GDP
GDP per unit capita
GNP
A rapid in population growth means
An increase in both real GDP and GDP per capita
Decrease in both real GDP and GDP per capita
Increase in real GDP but decrease GDP per capita
Decrease real GDP but increase GDP per capita
Technological progress occur when the economy gets more output by using
More capital and worker
More capital, less worker
More worker, same capital
The same capital and worker
Brain drain occur in poor country when people do not get enough education.
True
False
Diminishing returns is property whereby
The output increase when input increase
The benefit gained decrease when extra input increase
The output decrease when input increase
None above
Country's standard of living depends on its ability to produced goods and services
True
False
Not given
What type of capital are knowledge and machinery are
Human capital and technological knowledge
Human capital and inventory
Physical capital and Human capital
Worker capital and physical capital
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