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

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