Economic Growth: Unleashing The Potential Of Human Flourishing

10 Questions

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Economic Growth: Unleashing The Potential Of Human Flourishing

Questions and Answers
  • 1. 
    A sustained increase in the overall output per person is often called a country’s what?
    • A. 

      Economic growth

    • B. 

      Standard of living

    • C. 

      The Economic norm

    • D. 

      Frugal economy

  • 2. 
    Which metric is the best to use when talking about economic well-being?
    • A. 

      Gross domestic product (GDP)

    • B. 

      Minimum wage level

    • C. 

      Income per person

    • D. 

      Unemployment rate

  • 3. 
    GDP per capita is strongly correlated with:
    • A. 

      Literacy

    • B. 

      Longevity

    • C. 

      Economic regulation

    • D. 

      Both A and B

    • E. 

      All of the above

  • 4. 
    Evidence shows that global inequality is falling in which of these categories?
    • A. 

      Life expectancy, health, and educational attainment

    • B. 

      Education attainment, income, and GDP

    • C. 

      Life expectancy, health, and income

    • D. 

      Educational attainment, health, and GDP

  • 5. 
    What accurately describes the relationship between economic growth and national finances?
    • A. 

      Growth increases government revenues and decreases government spending.

    • B. 

      Growth decreases government revenues and increases government spending.

  • 6. 
    In order to encourage growth a country should have which of the following:
    • A. 

      An independent judiciary within a constitutionally governed system that respects civil rights

    • B. 

      The principle of equality before the law

    • C. 

      The legitimacy of private property rights

    • D. 

      All of the above

  • 7. 
    Which of the following encourages people to protect natural resources?
    • A. 

      Financial rewards

    • B. 

      Policy Solutions

    • C. 

      Enforceable property rights

    • D. 

      Tax breaks

  • 8. 
    According to the "environmental Kuznets curve" (EKC) economic growth has what effect on pollution?
    • A. 

      Makes it worse indefinitely.

    • B. 

      Has no effect.

    • C. 

      Makes pollution worse initially, until new technologies are created to bring levels down.

  • 9. 
    Which of the following is true about the critiques of economic growth?
    • A. 

      It results in a growing abundance of goods and services that may lead individuals to place their trust in wealth for their security.

    • B. 

      It creates a concern about how growth and the market economy will affect values and morality.

    • C. 

      It leads to a decline in the value of community.

    • D. 

      All of the above

  • 10. 
    Commercialization can encourage improved moral character because:
    • A. 

      They are allowed opportunities for higher education, where they learn about morals and values in life.

    • B. 

      The value of a good personal reputation and the rewards from being able to collaborate in business with people outside of one's family are so much bigger than before.

    • C. 

      People want to seem honorable and good natured in order to secure a job in the growing economy.

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