Measurement of Economic Growth And Development - SS3 Economics Past Questions & Answers - page 1

1

What are economic growth indicators used for?

A

 To measure the well-being of a country's citizens

 

B

To measure changes in the size of an economy over time

C

To measure access to healthcare and education

CORRECT OPTION: b
2

What is the most widely used indicator of economic growth?

A

Gross Domestic Product (GDP)

 

B

Gross National Product (GNP)

C

Gross National Income (GNI)

CORRECT OPTION: a
3

Which development indicator measures the average income of a country's citizens?

A

Literacy rate

B

Life expectancy

 

 

C

GDP Per Capita 

CORRECT OPTION: c
4

What is the purpose of development indicators?

A

To measure changes in the size of an economy over time

 

B

To measure the overall well-being of a country's citizens

C

To measure access to healthcare and education

CORRECT OPTION: b
5

What is the difference between GNP and GNI?

A

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.

B

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.

C

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.

 

CORRECT OPTION: a
6

What is the importance of using both economic growth and development indicators to measure a country's economic performance?

 

Using both economic growth and development indicators provides a more comprehensive picture of a country's economic performance by measuring both the size of its economy and the overall well-being of its citizens.

7

What are some examples of development indicators and how do they contribute to measuring a country's economic development? 

 

Examples of development indicators include literacy rate, life expectancy, infant mortality rate, access to healthcare and education, and poverty rate. These indicators contribute to measuring a country's economic development by assessing the overall well-being of its citizens, which is an important aspect of sustainable economic growth.

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