Economic Development and Growth
| Description: This quiz covers the concepts related to Economic Development and Growth, which is a branch of economics that focuses on the factors that contribute to the long-term growth of economies. | |
| Number of Questions: 14 | |
| Created by: Aliensbrain Bot | |
| Tags: economic development economic growth gdp gnp human capital infrastructure technology investment savings |
Which of the following is NOT a factor that contributes to economic growth?
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Investment
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Savings
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Inflation
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Technology
Inflation is a general increase in prices and fall in the purchasing value of money, which can have negative effects on economic growth.
Gross Domestic Product (GDP) is a measure of the:
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Total value of goods and services produced in a country in a given period
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Total value of goods and services consumed in a country in a given period
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Total value of goods and services exported from a country in a given period
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Total value of goods and services imported into a country in a given period
GDP is a measure of the total value of all goods and services produced within the borders of a country in a given period of time.
Gross National Product (GNP) is a measure of the:
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Total value of goods and services produced by a country's residents, regardless of their location
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Total value of goods and services produced within a country's borders, regardless of the nationality of the producers
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Total value of goods and services consumed by a country's residents, regardless of their location
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Total value of goods and services exported from a country, regardless of the nationality of the producers
GNP is a measure of the total value of all goods and services produced by a country's residents, regardless of their location.
Human capital refers to the:
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Stock of knowledge, skills, and abilities possessed by a population
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Stock of physical capital possessed by a population
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Stock of natural resources possessed by a population
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Stock of financial capital possessed by a population
Human capital refers to the stock of knowledge, skills, and abilities possessed by a population, which is a key factor in economic growth.
Infrastructure refers to the:
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Physical structures and facilities that support the functioning of an economy
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Stock of knowledge, skills, and abilities possessed by a population
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Stock of natural resources possessed by a population
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Stock of financial capital possessed by a population
Infrastructure refers to the physical structures and facilities that support the functioning of an economy, such as roads, bridges, ports, and power plants.
Technology refers to the:
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Application of scientific knowledge for practical purposes
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Stock of knowledge, skills, and abilities possessed by a population
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Stock of natural resources possessed by a population
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Stock of financial capital possessed by a population
Technology refers to the application of scientific knowledge for practical purposes, which can lead to new products, processes, and methods of production.
Investment refers to the:
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Use of resources to create new capital goods
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Use of resources to create new consumer goods
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Use of resources to create new natural resources
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Use of resources to create new financial assets
Investment refers to the use of resources to create new capital goods, such as machinery, equipment, and buildings.
Savings refers to the:
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Portion of income that is not spent on consumption
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Portion of income that is spent on consumption
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Portion of income that is invested in capital goods
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Portion of income that is invested in financial assets
Savings refers to the portion of income that is not spent on consumption, and can be used for investment or to build up financial assets.
Economic growth can be measured by the:
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Rate of change in real GDP
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Rate of change in real GNP
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Rate of change in the consumer price index
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Rate of change in the unemployment rate
Economic growth can be measured by the rate of change in real GDP, which is the total value of goods and services produced in a country in a given period, adjusted for inflation.
The Harrod-Domar model is a:
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Model of economic growth that emphasizes the role of investment and savings
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Model of economic growth that emphasizes the role of technology and innovation
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Model of economic growth that emphasizes the role of human capital and education
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Model of economic growth that emphasizes the role of infrastructure and public works
The Harrod-Domar model is a model of economic growth that emphasizes the role of investment and savings in determining the rate of economic growth.
The Solow model is a:
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Model of economic growth that emphasizes the role of technology and innovation
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Model of economic growth that emphasizes the role of human capital and education
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Model of economic growth that emphasizes the role of infrastructure and public works
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Model of economic growth that emphasizes the role of natural resources and environmental sustainability
The Solow model is a model of economic growth that emphasizes the role of technology and innovation in determining the rate of economic growth.
The Lewis model is a:
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Model of economic growth that emphasizes the role of the agricultural sector
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Model of economic growth that emphasizes the role of the industrial sector
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Model of economic growth that emphasizes the role of the service sector
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Model of economic growth that emphasizes the role of the government sector
The Lewis model is a model of economic growth that emphasizes the role of the agricultural sector in providing labor and capital for the industrial sector.
The Rostow model is a:
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Model of economic growth that emphasizes the role of stages of development
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Model of economic growth that emphasizes the role of structural change
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Model of economic growth that emphasizes the role of technological change
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Model of economic growth that emphasizes the role of institutional change
The Rostow model is a model of economic growth that emphasizes the role of stages of development, such as the traditional stage, the takeoff stage, the drive to maturity stage, and the age of high mass consumption stage.
The Kuznets curve is a:
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Graph that shows the relationship between economic growth and income inequality
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Graph that shows the relationship between economic growth and environmental degradation
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Graph that shows the relationship between economic growth and technological change
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Graph that shows the relationship between economic growth and institutional change
The Kuznets curve is a graph that shows the relationship between economic growth and income inequality, and typically shows that income inequality increases in the early stages of economic growth and then decreases in the later stages.