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

Need help with your exam preparation?

Existing Quiz Clients Login here
Question #1
The Industrial Revolution lead to all of the following except
A.   manufacturing towns
B.   a traditional economy
C.   social mobility
D.   pollution
Question #2
Which of these countries has a strong Rule of Law?
A.   Yemen
B.   South Sudan
C.   Canada
D.   Myanmar
Question #3
Which of the following is not a component of the production function?
A.   trade
B.   physical capital
C.   human capital
D.   technology
Question #4
How is human capital acquired?
A.   free trade
B.   through education
C.   investments in infrastructure
D.   through Tik Tok
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.   $199 billion USD
B.   $448.85 billion USD
C.   $252.74 billion USD
D.   $247.33 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.   hire and promote family members into positions of power
B.   maintain and uphold the rule of law
C.   suppress rule of law
D.   accept bribes to do business
Question #8
What is the future value of a $10,000 investment that earns 7% in compound interest over 5 years?
A.   $141,985
B.   $13,500
C.   $327,680,000
D.   $14,025
Question #9
Convergence occurs when low-income countries have ____________ rates of economic growth than high-income countries.
A.   lower
B.   equal
C.   slower
D.   higher
Question #10
What is the most important contributor to economic growth?
A.   physical capital
B.   authoritarian rule
C.   corruption
D.   technology

Need help with your exam preparation?

Existing Quiz Clients Login here