Econ 102 - Principles of Macroeconomics » Spring 2022 » Ch 7 Reading Quiz

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Question #1
The Industrial Revolution lead to all of the following except
A.   pollution
B.   manufacturing towns
C.   a traditional economy
D.   social mobility
Question #2
Which of these countries has a strong Rule of Law?
A.   South Sudan
B.   Yemen
C.   Myanmar
D.   Canada
Question #3
Which of the following is not a component of the production function?
A.   physical capital
B.   human capital
C.   technology
D.   trade
Question #4
How is human capital acquired?
A.   through Tik Tok
B.   investments in infrastructure
C.   through education
D.   free trade
Question #5
From 2017 to 2018, Peru's GDP grew from $222 billion USD to $226.85. Assuming Peru will maintain the same growth rate, what will Peru's GDP be in 5 years?
A.   $252.74 billion USD
B.   $247.33 billion USD
C.   $199 billion USD
D.   $448.85 billion USD
Question #6
Which of the following is not an example of capital deepening?
A.   building roads and bridges
B.   building schools in developing countries
C.   creating health clinics and providing free immunizations
D.   restricting free trade
Question #7
What can governments do to promote economic growth?
A.   suppress rule of law
B.   hire and promote family members into positions of power
C.   accept bribes to do business
D.   maintain and uphold the rule of law
Question #8
What is the future value of a $10,000 investment that earns 7% in compound interest over 5 years?
A.   $327,680,000
B.   $13,500
C.   $141,985
D.   $14,025
Question #9
Convergence occurs when low-income countries have ____________ rates of economic growth than high-income countries.
A.   slower
B.   higher
C.   equal
D.   lower
Question #10
What is the most important contributor to economic growth?
A.   authoritarian rule
B.   physical capital
C.   technology
D.   corruption

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