QUESTION 1 The largest contributor to productivity growth are: AThe size of economy BLocation of the demand Curve CNumber of buyers in the market DTechnological advances 5 points QUESTION 2 When...

1. The largest contributor to productivity growth are:


2. AThe size of economy


3. BLocation of the demand Curve


4. CNumber of buyers in the market


5. DTechnological advances

5 points

QUESTION 2

1. When society increases the level of capital per person, the result is called______________ It can apply both to additional human capital per worker and to additional physical capital per worker


2. AHuman capital


3. BCapital Deepening


4. CSpecialization


5. DEmployment

5 points

QUESTION 3

1. Technological change is combination of


2. 
   invention advances in knowledge—and innovation


3. advances in knowledge


4. innovation


5. All of the above

5 points

QUESTION 4

1. Two prominent members of the fast growth club are _________, which between them have nearly 40% of the world’s population


2. AChina and India


3. BIndonesia and Malaysia


4. CPoland and Ireland


5. DBrazil and England

5 points

QUESTION 5

1. Critics of growth argues the following, except:


2. AGrowth has caused uncontrolled pollution


3. BGrowth has not solved any social problem


4. CGrowth is not sustainable


5. DGrowth cannot be controlled

5 points

QUESTION 6

1. 
   The first determinant of labor productivity is human capitalHuman capital is the accumulated knowledge from:


2. AExperience, knowledge student body size


3. BEducation and experience, skills, and expertise that the average worker in an economy possesses


4. CExperience, location, labor hours


5. DTechnical skill, population size

5 points

QUESTION 7

1. Which is not component of Aggregate production function


2. Workforce


3. Human Capital


4. Physical capital, technolgy


5. Unemployment

5 points

QUESTION 8

1. The following are all determinants of growth except:


2. AThe supply factors


3. BThe demand Factor


4. CThe allocation factor


5. DThe efficiency factor

5 points

QUESTION 9

1. The ability of low GDP/capita countries to “catch up” with high GDP/capita countries is called:


2. ACompetition


3. BConsumer sovergenity


4. CConvergence


5. DConveyance

5 points

QUESTION 10

1. An overall pattern of convergence is clear The _______ countries have GDP growth that is_____ than that of the middle-income countries,


2. Alow income , slower


3. BHigh income , faster


4. CHigh income, slower


5. Dlow-income ,Faster

5 points

QUESTION 11

1. All of the following factors are critical for economic growth, except


2. AContractual rights


3. BImminent domain


4. CProperty rights


5. DRule of law

5 points

QUESTION 12

1. Area of a country, usually with access to a port where, among other benefits, the government does not tax trade:


2. SEZ (Special economic Zone)


3. Sector


4. S corp


5. Safe harbour

5 points

QUESTION 13

1. Modern Economic growth began with:


2. AWith the signing of Magna Carta on 1215 in England


3. BAt the outset of world War 1


4. CAround 1776 when James Watt perfected the steam engine


5. Dwith the start of Industrial Revolution around 1900

5 points

QUESTION 14

1. Te quality of “human Capital” includes all of the following except:


2. AEduction


3. BSize of population


4. CExperience


5. DKnowledge

5 points

QUESTION 15

1. The development of new _________can provide a way for an economy to sidestep the diminishing marginal returns of capital deepening


2. Investment


3. Utility


4. Technology
   


5. Increase in population

5 points

QUESTION 16

1. Which of the following statement is correct:


2. ACapital can only complement labor


3. BCapital makes labor less productive


4. CA non determinants of labor productivity is the amount of capital goods available per worker


5. DA nation acquires more capital by saving some of its income and uses it to invest in plants and equipments

5 points

QUESTION 17

1. The principle measurement of the economic success of a nation is:


2. AThe Gross Domestic Product (GDP) in nominal term


3. BThe Gross Domestic Product (GDP) in real term


4. CNominal GDP per capita


5. DReal GDP per capita

5 points

QUESTION 18

1. 
   Which is not one of important areas that governments around the world have chosen to invest in to facilitate capital deepening and technology:


2. AEducation, infrstructure


3. BSpecial economic zone


4. CScientific reserch


5. DPollution control

5 points

QUESTION 19

1. Institutional structure which promotes “Modern Economic Growth” are except


2. AFree trade


3. BInefficient Financial institutions


4. CA competitive market system


5. DPatents and copyright’s

5 points

QUESTION 20

1. Since the civil war, the US economy has been trans formed from primarily________________economy to ________and ________


2. Services, technology,agriculture


3. rural and agriculture, services , technolgy


4. Technology , agriculture, rural


5. Services,technology , maintenance