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.   social mobility
D.   a traditional economy
Question #2
Which of these countries has a strong Rule of Law?
A.   Yemen
B.   Canada
C.   Myanmar
D.   South Sudan
Question #3
Which of the following is not a component of the production function?
A.   trade
B.   human capital
C.   technology
D.   physical capital
Question #4
How is human capital acquired?
A.   through Tik Tok
B.   investments in infrastructure
C.   free trade
D.   through education
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.   $448.85 billion USD
D.   $199 billion USD
Question #6
Which of the following is not an example of capital deepening?
A.   building schools in developing countries
B.   building roads and bridges
C.   restricting free trade
D.   creating health clinics and providing free immunizations
Question #7
What can governments do to promote economic growth?
A.   maintain and uphold the rule of law
B.   hire and promote family members into positions of power
C.   accept bribes to do business
D.   suppress 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.   $13,500
B.   $327,680,000
C.   $14,025
D.   $141,985
Question #9
Convergence occurs when low-income countries have ____________ rates of economic growth than high-income countries.
A.   higher
B.   lower
C.   slower
D.   equal
Question #10
What is the most important contributor to economic growth?
A.   corruption
B.   technology
C.   authoritarian rule
D.   physical capital

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