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Growth in nominal GDP
Decreases in the rate of unemployment
Increases in real GDP per capita
Increases in real GDP
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15.0%
6.0%
5.7%
1.1%
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$2,120 per person
$212 per person
$21,200 per person
$205 per person
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1.1%
2.5%
5.0%
3.4%
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Nation A's real GDP growth in 2010 is higher than Nation B's
Nation B's real GDP growth in 2010 is higher than Nation A's
Nation A's real GDP growth in 2010 is identical to Nation B's
Nation A's and Nation B's real GDP growth rates in 2010 are both higher than 10%
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Nation A's GDP per capita is higher than Nation B's
Nation B's GDP per capita is higher than Nation A's
Nation A's GDP per capita is equal to Nation B's
One cannot determine GDP per capita from the given data
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Nation A's GDP per capita increased from 2009 to 2010, while Nation B's decreased
Nation B's GDP per capita increased from 2009 to 2010, while Nation A's decreased
Nation A's and Nation B's GDP per capita both decreased from 2009 to 2010
Nation A's and Nation B's GDP per capita both increased from 2009 to 2010
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Years that it would take for a value (like real GDP) to expand 70 times
Years that it would take for a value (like real GDP) to double
Times a value (like real GDP) is a multiple of 70
Times one could double a certain value (like real GDP) over 70 years
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175 years
40 years
28 years
17.5 years
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20 years under scenario A, versus 30 years under scenario B
20 years under scenario A, versus 16 years under scenario B
12 years under scenario A, versus 16 years under scenario B
16 years under scenario A, versus 30 years under scenario B
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An average growth rate in real GDP that is slower than the growth rate of the population
A doubling of real GDP from 1950 to 2009
An average growth rate in real GDP that is faster than the growth rate of the population
An average growth rate in real GDP per capita of about 6% per year
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7.5 percent and 5 percent
3.2 percent and 2 percent
5.1 percent and 3 percent
1.1 percent and 0.5 percent
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Improved product quality
Added leisure
Debasement of the environment
More stress-free lifestyle
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Steam engine
Automobile
Telephone
Electric motor
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It spread slowly across the globe, with some societies not having experienced it yet
It has occurred only in the last 200 or so years
It drastically alters the culture and politics of society
It has not affected the average lifespan of human beings
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Leader countries continue to grow faster than follower countries
Follower countries can grow faster than leader countries
Large countries cannot grow faster than leader countries
The gap between leader countries and follower countries stays constant
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Patents and copyrights
Efficient financial institutions
Protection of domestic firms from foreign rivals
Stable political system
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Saving and investment
Spending and income
Resources and products
Inventions and ideas
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Saving and investment
Spending and income
Resources and products
Inventions and ideas
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Improvements in technology
Expansion of capital stock
Increases in purchases of output
Better education and training
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The quantity of human resources
The quality of natural resources
The stock of capital goods
The full employment of resources
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More human and natural resources
Technological progress and innovation
An increase in the economy's stock of capital goods
An increase in total spending in the economy
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Having an efficient financial system
Reaching full production potential
Having free trade
Enhanced quantity and quality of human resources
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Leftward shift of the production possibilities curve
Movement from a point inside to a point outside of the production possibilities curve
Movement from a point near the vertical axis to a point near the horizontal axis on the production possibilities curve
Rightward shift of the production possibilities curve
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Shift in the curve from AB to CD
Shift in the curve from AB to EF
Movement from point 1 to point 2
Movement from point 3 to point 4
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A supply factor
A demand factor
An efficiency factor
An allocation factor
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Supply and environmental factors
Demand and efficiency factors
Labor inputs and labor productivity
Technological process
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The use of the economy's resources in a more efficient way
An increase in the spending of business and consumers
An increase in government purchase of the economy's output
An increase in the quantity and quality of labor resources
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Still on its PPC
Outside its PPC
Inside its PPC
On one of the axes of its PPC
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A decrease in the price level
Allocative efficiency
Technological process
Full employment of resources
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Technological process and industrial change
Increases in the quantity and quality of resources
Improvement in labor productivity and the number of work-hours
Unemployment and inefficient allocation of resources
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Labor productivity divided by the number of worker-hours
Labor productivity multiplied by real output
Number of worker hours multiplied by labor productivity
Number of worker-hours divided by labor productivity
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$3 million
$30 million
$45 million
$60 million
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$10/worker-hour
$15/worker-hour
$24/worker-hour
$240/worker-hour
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Its spending and investment
Its private and public sectors of the economy
Its resources and the productivity of the resources
Its markets and prices
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Number of workers
Labor productivity
Technological progress
Average price level
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Size of the labor force
Length of the average workweek
Unemployment rate of the workforce
Labor force participation rate
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An increase in the stock of real capital
Improvement in the education and health of the population
Technological progress
An increase in the size of the labor force
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Participation rate
Employment rate
Unemployment rate
Inflation rate
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$400,000
$420,000
$462,000
$500,000
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1.5%
2.5%
5.0%
6.0%
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2.0%
5.0%
10.0%
15.0%
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5.1% and 7.4% respectively
2.8% and 3.6% respectively
7.4% and 5.1% respectively
3.6% and 2.8% respectively
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3.8% and 2.6% respectively
2.6% and 3.8% respectively
8.7% and 6.2% respectively
6.2% and 8.7% respectively
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The average length of the workweek remained relatively constant
The size of the labor force expanded
Birthrates kept the native-born population growing at a steady rate
Women's labor force participation rate surged
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25%
33.3%
50%
100%
Increase in population
Increase in labor productivity
Increase in labor hours
Increase in labor force
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Increase in labor hours
Increase in labor force
Increase in population
Increase in labor productivity
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