Economic Growth and Development

Economic growth measures the

• a)     Growth of productivity
• b)     Increase in nominal income
• c)     Increase in output
• d)     None of the above

Economic growth can be measured by

• a)     The CPI
• b)     The CBI
• c)     GDP
• d)     MPC

When an economy produces more output per capital the economy is said to be having

• a)     Inflation
• b)     Economic growth
• c) Economic planning
• d)     Living standard

Economic growth can be seen by an outward shift of

• a)     The Production Possibility Frontier
• b)     The Gross Domestic Barrier
• c)     The Marginal Consumption Frontier
• d)     The Minimum Efficient Scale

Human Development Index is...

• the average number of years a person is expected to live.

• a tool for ranking countries based on their level of economic development.

• how much humans develop over time.

the total dollar value of all goods and services produced by a country in 1 year; you can think of it as the size of the economy.

• GDP (Gross Domestic Product)

• Child Labor

• Per capita GDP

Improving the economic situation → better lives for people

• Urbanization

• Industrialization

• Modernization

• Economic Development

All of the following make up the human development index EXCEPT

• life expectancy
• per capita income
• education level and literacy rate
• gender equality

The number of adults who are able to read and write in a country is the....

• proportion of labor

• GNI

• literacy rate

• per capita rate