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.   social mobility
C.   a traditional economy
D.   manufacturing towns
Question #2
Which of these countries has a strong Rule of Law?
A.   Myanmar
B.   South Sudan
C.   Canada
D.   Yemen
Question #3
Which of the following is not a component of the production function?
A.   physical capital
B.   trade
C.   human capital
D.   technology
Question #4
How is human capital acquired?
A.   through education
B.   investments in infrastructure
C.   through Tik Tok
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.   $199 billion USD
C.   $448.85 billion USD
D.   $247.33 billion USD
Question #6
Which of the following is not an example of capital deepening?
A.   restricting free trade
B.   building roads and bridges
C.   building schools in developing countries
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.   suppress rule of law
C.   maintain and uphold the 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.   equal
B.   lower
C.   slower
D.   higher
Question #10
What is the most important contributor to economic growth?
A.   technology
B.   authoritarian rule
C.   corruption
D.   physical capital

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