General Questions Quiz On Economics! Trivia

39 Questions | Total Attempts: 71

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General Questions Quiz On Economics! Trivia

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Questions and Answers
  • 1. 
    Which is the least developed region among the following?
    • A. 

      North America

    • B. 

      Eastern Europe

    • C. 

      Southwest Asia

    • D. 

      Western and Central Europe

    • E. 

      East Asia

  • 2. 
    The total value of the output of goods and services in a year in a country is its
    • A. 

      Gross national income.

    • B. 

      Primary economic sector.

    • C. 

      Productivity index.

    • D. 

      Value added.

    • E. 

      Gross domestic product.

  • 3. 
    Gross domestic product (GDP) is the
    • A. 

      Total value of the outputs minus inputs of goods and services produced in a country during a year.

    • B. 

      Total value of exports of goods and services produced in a country during a year.

    • C. 

      Total value of outputs of goods and services produced in a country during a year.

    • D. 

      Total value of human capital development in a country during a year.

    • E. 

      Total value of investments made in domestic and foreign sources of revenue during a year.

  • 4. 
    An example of a primary sector activity is
    • A. 

      Education.

    • B. 

      Manufacturing.

    • C. 

      Banking.

    • D. 

      Retailing.

    • E. 

      Mining.

  • 5. 
    Processing of computer information is an example of which sector of the economy?
    • A. 

      Sixth percentile

    • B. 

      Primary and secondary

    • C. 

      Primary

    • D. 

      Tertiary

    • E. 

      The data sector

  • 6. 
    The secondary sector of the economy includes which of the following?
    • A. 

      Data processing

    • B. 

      Mining

    • C. 

      Government

    • D. 

      Construction

    • E. 

      Banking

  • 7. 
    In MDCs, employment is increasing more rapidly in which of the following sectors?
    • A. 

      Farming

    • B. 

      Primary

    • C. 

      Secondary

    • D. 

      Tertiary

    • E. 

      Fishing

  • 8. 
    The primary sector of the economy includes which of the following?
    • A. 

      Data processing

    • B. 

      Beverage bottling

    • C. 

      Government

    • D. 

      Sheep herding

    • E. 

      Banking

  • 9. 
    The value of a product minus the costs of raw materials and energy is
    • A. 

      Gross domestic product.

    • B. 

      Productivity.

    • C. 

      Tertiary sector analysis.

    • D. 

      Market value.

    • E. 

      Value added.

  • 10. 
    ________ is an example of a secondary sector activity.
    • A. 

      Banking

    • B. 

      Farming

    • C. 

      Manufacturing

    • D. 

      Secondary education

    • E. 

      Professional football

  • 11. 
    In less developed countries, consumer goods such as telephones, televisions, and motor vehicles are
    • A. 

      Available for sharing by a large number of people.

    • B. 

      Unknown and unfamiliar to most people.

    • C. 

      Essential to rural life.

    • D. 

      Familiar to many but owned by relatively few.

    • E. 

      Available only through local manufacture.

  • 12. 
    Examples of material conditions include
    • A. 

      Drinking water and sewage systems.

    • B. 

      Systems of thought.

    • C. 

      Religious institutions.

    • D. 

      Division of jobs into different sectors.

    • E. 

      Political institutions.

  • 13. 
    A country that has a higher level of development exhibits a(n)
    • A. 

      Improvement in material conditions.

    • B. 

      Growth of the output of goods and services.

    • C. 

      Improvement of a product compared to the needed labor.

    • D. 

      Division of jobs into different sectors.

    • E. 

      Growth of political institutions.

  • 14. 
    Per capita GDP is a poor indicator of which of the following?
    • A. 

      The approximate level of material well being in a country

    • B. 

      The number of countries below the poverty level

    • C. 

      The distribution of wealth within a country

    • D. 

      The spatial distribution of global wealth

    • E. 

      Potential for providing all citizens with a comfortable life

  • 15. 
    Per capita GDP is a good indicator of which of the following?
    • A. 

      The approximate level of spiritual well being in a country

    • B. 

      The number of countries below sea level

    • C. 

      The distribution of wealth within a country

    • D. 

      The political dimensions of a population

    • E. 

      Potential for providing all citizens with a comfortable life

  • 16. 
    Which of the following is an indicator of a country's level of development?
    • A. 

      The number of millionaires

    • B. 

      The number of newspapers

    • C. 

      Crude death rate

    • D. 

      Natural death rate

    • E. 

      Natural increase rate

  • 17. 
    The inequality-adjusted human development index of the United States is 
    • A. 

      Inferior to that of Canada and most Western European countries.

    • B. 

      Greater than any other country in the world.

    • C. 

      Inferior to that of Canada but superior to most Western European countries.

    • D. 

      Greater than Canada because a higher percentage of people in the United States have quality health care.

    • E. 

      Inferior to Western European countries but far superior to Canada.

  • 18. 
    The IHDI of Latin American countries is 
    • A. 

      Inferior to that of Canada and most Western European countries.

    • B. 

      Greater than the United States but less than Canada.

    • C. 

      Inferior to that of Canada but superior to most Western European countries.

    • D. 

      Greater than that of Canada and twice as great as that of the United States.

    • E. 

      Inferior to Western European countries and far superior to Canada.

  • 19. 
    Compared to less developed countries, more developed countries have higher rates of
    • A. 

      Literacy.

    • B. 

      Childhood mortality.

    • C. 

      Infectious disease.

    • D. 

      Illiteracy.

    • E. 

      Environmental pollution.

  • 20. 
    People are more productive in more developed countries because they
    • A. 

      Work harder.

    • B. 

      Have access to more technology.

    • C. 

      Have a low amount of value added per person.

    • D. 

      Are consistently better educated.

    • E. 

      Understand their jobs better than workers in less developed countries.

  • 21. 
    Even though a higher percentage of GDP is spent on education in less developed countries,
    • A. 

      More women than men have access to education in LDCs.

    • B. 

      LDCs spend less per pupil than MDCs.

    • C. 

      LDCs have smaller average class sizes than MDCs.

    • D. 

      Literacy rates are higher in urban areas of LDCs than in many MDCs.

    • E. 

      Levels of educational attainment are higher in LDCs.

  • 22. 
    If a country has a large number of publishers and globally esteemed universities, you might surmise that the country is most likely
    • A. 

      Neither an LDC nor an MDC.

    • B. 

      An MDC.

    • C. 

      An LDC.

    • D. 

      An LDC that has some of the world's top universities.

    • E. 

      An MDC that has some of the world's lowest literacy rates.

  • 23. 
    Compared to less developed countries, more developed countries have lower
    • A. 

      Percentages of GDP spent on education.

    • B. 

      Literacy rates.

    • C. 

      Numbers of teachers available per pupil.

    • D. 

      Numbers of years attending school.

    • E. 

      Amounts of spending per student.

  • 24. 
    The difference in per capita GDP between the more developed and less developed regions is
    • A. 

      Widening.

    • B. 

      Remaining constant.

    • C. 

      Decreasing.

    • D. 

      Zero.

    • E. 

      Cycling up and down.

  • 25. 
    The North American region has high rates of material development but troubling levels of
    • A. 

      Wealth.

    • B. 

      Inequality.

    • C. 

      Financial and management services.

    • D. 

      Spiritual development.

    • E. 

      Educational attainment.