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15 questions
Some countries in our region are experiencing a lack of industrialization, a low standard of living and a high population growth rate. Which of the following terms BEST describes the economies of these countries?
Advanced
Developed
Developing
Agricultural
Economic growth is measured by
Infrastructural changes
Changes in real GDP per capital
Changes in gross domestic product
Accumulation of capital goods
Some developing countries try to achieve economic growth with less governmental participation. This is MOST likely to be achieved through increased
Private Investment
Public Expenditure
State Planning
Trade Barriers
What is economic growth?
An increase in real gross domestic product per capita
An increase in nominal gross domestic product
An increase in national income
National income increasing at a faster rate than the rate of inflation
All of the following are drivers of economic growth EXCEPT:
Human Capital
Land and other natural resources
A large dependent population
Technological advancement
When an economy which was once booming suddenly starts to experience low demand for goods and services, leading to companies and businesses closing down, rising unemployment and falling standards of living, the country is said to be experiencing
A recession
A revaluation
An externality
A disequilibrium
Real GDP divided by the total population refers to
National Income
Nominal GDP
Real GDP per capita
Wealth of Nations
Which of the following statement is TRUE?
Economic growth can occur without economic development
Economic growth cannot occur without economic development
Economic growth always results in economic development
Economic development can occur without economic growth
Economic development leads to all of the following EXCEPT:
Increased access to health care
Increase real per capital gross domestic product
Increased access to education
Increased dependence on the agricultural sector
What is NOT a source of underdevelopment?
Insufficient natural resources
High birth rates
Undeveloped human capital
Increasing GPD
What economic concept does this image BEST show?
Economic growth
Economic development
Economic stability
Economic questions
The features shown best characterize...
Economic growth
Economic development
Economic stability
Responsible governance
Levels of output that a country is capable of producing when all resources are being used in production.
Economic development
Economic growth
Potential output
Actual output
Levels of output of goods and services that the country is currently producing
Economic development
Economic growth
Potential output
Actual output
Best measurement of economic development.
Gross domestic product
Gross national product
Disposable income
Human development index
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