Measurement of Economic Growth And Development - SS3 Economics Past Questions and Answers - page 1
What are economic growth indicators used for?
To measure the well-being of a country's citizens
To measure changes in the size of an economy over time
To measure access to healthcare and education
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What is the most widely used indicator of economic growth?
Gross Domestic Product (GDP)
Gross National Product (GNP)
Gross National Income (GNI)
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Which development indicator measures the average income of a country's citizens?
Literacy rate
Life expectancy
GDP Per Capita
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What is the purpose of development indicators?
To measure changes in the size of an economy over time
To measure the overall well-being of a country's citizens
To measure access to healthcare and education
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What is the difference between GNP and GNI?
GNP measures the total value of all goods and services produced within a country's borders, while GNI measures the value of all goods and services produced by a country's citizens, both domestically and abroad.
GNP measures the value of all goods and services produced by a country's citizens, both domestically and abroad, while GNI measures the income earned by a country's citizens, both domestically and abroad.
GNP measures the total income of a country's citizens, both domestically and abroad, while GNI measures the value of all goods and services produced within a country's borders.
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What is the importance of using both economic growth and development indicators to measure a country's economic performance?
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What are some examples of development indicators and how do they contribute to measuring a country's economic development?
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