Economics Quiz 1-3

Economics Quiz 1-3

12th Grade

10 Qs

quiz-placeholder

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Economics Quiz 1-3

Economics Quiz 1-3

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Ronnie Jonse

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic growth is an increase in a nation's output of goods and services over time.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic growth usually can be achieved without investing in new resources.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic growth leads the production possibilities frontier to contract

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People's skills, abilities, health, knowledge and motivation all add up to entrepreneurship

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Separation of tasks to be performed by different workers is division of labor

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would result in a change in the production possibilities frontier in the mythical country Alpha?

an influx of immigrants form other countries

the discovery of an abundant natural resource

a long draught

all of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the mythical country of Alpha, an entrepreneur has introduced a new technology that makes manufacturing twice as efficient as before. How is this likely to affect the production possibilities curve?

It would not change

It would make the curve smaller

it would expand the curve

it would change the shape of the curve

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