Economics - Long Term Economic Growth
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This is The MCQs of Economics
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Question 1 of 37
1. Question
Economic growth is important because:
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Question 2 of 37
2. Question
The idea of convergence of GDP in Europe suggests that:
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Question 3 of 37
3. Question
Identify below what is NOT considered to be a cause of economic growth.
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Question 4 of 37
4. Question
The best way to achieve economic growth is to:
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Question 5 of 37
5. Question
The long run equilibrium level of national income is the level at which:
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Question 6 of 37
6. Question
The golden-rule saving rate is the rate of saving that:
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Question 7 of 37
7. Question
The growth path resulting from technological progress for a given saving rate is known as the:
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Question 8 of 37
8. Question
The percentage of the working age population that is part of the workforce is known as the:
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Question 9 of 37
9. Question
The belief that the rate of growth depends upon technological progress facilitated by institutions incentives and government is known as ____ growth theory
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Question 10 of 37
10. Question
Policies to encourage productivity do not include:
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Question 11 of 37
11. Question
A combined measure of productivity that takes account of both labour and capital productivity is known as:
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Question 12 of 37
12. Question
Identify below what does NOT affect productivity
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Question 13 of 37
13. Question
A higher short-term rate of growth will normally require a faster rate of technological progress.
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Question 14 of 37
14. Question
Governments can stimulate productivity by:
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Question 15 of 37
15. Question
Supply side policies are considered effective in:
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Question 16 of 37
16. Question
GDP per head may be an imperfect measure of economic welfare because it excludes:
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Question 17 of 37
17. Question
Potential output can be increased by ____ or by ______
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Question 18 of 37
18. Question
If a production input is in fixed supply growth is impossible in the long run
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Question 19 of 37
19. Question
The neoclassical theory of growth identifier the steady state rate of growth as the ____ just sufficient to keep _____ constant while labour grows
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Question 20 of 37
20. Question
In the neoclassical theory of growth a higher saving rate leads to:
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Question 21 of 37
21. Question
The convergence hypothesis states that poor countries grow more slowly than average but rich countries grow more quickly than average
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Question 22 of 37
22. Question
Economic growth may depend upon _____ and _____
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Question 23 of 37
23. Question
The zero growth proposal argus that it is best to aim for zero growth in measured GNP to avoid environmental costs
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Question 24 of 37
24. Question
The growth rates of economies tend to converge because ______ is easier when capital per worker is low and because of :
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Question 25 of 37
25. Question
The business cycle describes fluctuations in output around the:
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Question 26 of 37
26. Question
All of the following are parts of the business cycle except:
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Question 27 of 37
27. Question
The Political business cycle arises because politicians interfere with the economy for political advantage
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Question 28 of 37
28. Question
The theory that explains business cycles by the dynamic interaction of consumption and investment demand is the:
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Question 29 of 37
29. Question
The multiplier accelerator model assumes ____ depends on ______
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Question 30 of 37
30. Question
Real business cycle theory suggests that ____ not important in explaining short-term fluctuations around actual output
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Question 31 of 37
31. Question
The impossibility of negative gross investment provides a ______ to fluctuation in ______
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Question 32 of 37
32. Question
Output can exceed demand during the recovery phase as firms restore stocks to their target levels
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Question 33 of 37
33. Question
Real business cycles are cycles in
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Question 34 of 37
34. Question
Real business cycle theories suggest that _____ to correct departures from the desired growth path
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Question 35 of 37
35. Question
The business cycle is not transmitted from one country to another through:
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Question 36 of 37
36. Question
Real business cycle theorists argue that ______ can explain short short and long term fluctuation in output:
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Question 37 of 37
37. Question
Keynesian unemployment causes a fall in the real wage:
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