Economic Growth Quiz

Economic Growth Quiz

8th Grade

50 Qs

quiz-placeholder

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Economic Growth Quiz

Economic Growth Quiz

Assessment

Quiz

Social Studies

8th Grade

Practice Problem

Hard

Created by

Basma Almutrik

Used 2+ times

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50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Industrial Revolution led to a decrease in the production of goods.

True

False

Answer explanation

The Industrial Revolution actually increased the production of goods due to advancements in technology and manufacturing processes, making the statement false.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The invention of the printing press had little impact on the availability of books.

True

False

Answer explanation

The invention of the printing press significantly increased the availability of books by allowing for mass production, making them more accessible and affordable. Therefore, the statement is false.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP includes the value of imported goods.

True

False

Answer explanation

GDP measures the total value of goods and services produced within a country. It excludes the value of imported goods, as they are not produced domestically. Therefore, the statement is false.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decrease in GDP generally indicates economic growth.

True

False

Answer explanation

A decrease in GDP indicates a contraction in the economy, not growth. Therefore, the statement is false.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A stock market is where companies trade their stocks at agreed-upon prices.

True

False

Answer explanation

True. A stock market is indeed a platform where companies buy and sell their stocks at prices that are mutually agreed upon by buyers and sellers.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is economic growth?

The decrease in the production of goods and services.

The increase in the production of goods and services over time.

The decrease in the price of goods and services.

The increase in the population of a country.

Answer explanation

Economic growth refers to the increase in the production of goods and services over time, indicating a healthier economy. The other options describe decreases or unrelated factors, making them incorrect.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a component of GDP?

Consumption

Investment

Government Spending

Imports

Answer explanation

Imports are not a component of GDP; they are subtracted from the total. GDP includes Consumption, Investment, and Government Spending, which represent domestic economic activity.

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