Tag: economic growth and development

Questions Related to economic growth and development

Economic growth is an increase in the national income which is corrected for _____________, i.e, per capital income.

geography economic growth and development development and growth need for sustainable development economics of development

  1. population change

  2. employment level

  3. inflation

  4. poverty

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Correct Option: A

The measure of economic growth is not limited to increase in the national income, rather it focuses on increase in ____________.

geography economic growth and development development and growth need for sustainable development economics of development

  1. per capita income

  2. employment level

  3. poverty

  4. both A & C

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Correct Option: A
Explanation:

Economic growth refers to the process of using natural resources for the development of the economy in order to increase the per capita income of the economy. The growth mainly measures the per capita income rather than the overall income of the economy. 

___________ was one of the earliest writers on development economics.

geography economic growth and development development and growth need for sustainable development economics of development

  1. Simon Kuznets

  2. Adam Smith

  3. A.C. Pigou

  4. None of the above

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Correct Option: A
Explanation:

Simon Kuznets was one of the earliest writers on the development of the economies where economic development refers to the development and growth of the economy in all terms which includes all aspects and has become a main and central theme of economic thought throughout the years. 

A mere increase in ____________ is not considered economic growth.

geography economic growth and development development and growth need for sustainable development economics of development

  1. per capita income

  2. GDP

  3. GNP

  4. both B & C

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Correct Option: D

What does the concept of economic growth focus on?

geography economic growth and development development and growth need for sustainable development economics of development

  1. Rise in employment level.

  2. Increase in social wealth of the nation.

  3. Increase in per capita income.

  4. Increase in production output.

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Correct Option: C

Economic growth is measured in terms of ____________ of the economy.

geography economic growth and development development and growth need for sustainable development economics of development

  1. employment aggregates

  2. national income aggregates

  3. both A & B

  4. none of the above

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Correct Option: B
Explanation:

National Income refers to the income of the whole economy including all the sectors at a given point of time. It only estimates the income of all the sectors and does not say the exact figure as it is impossible to tell the exact income figure of an economy. Therefore, national income is only the imputed figure of the income of the economy. Economic growth of any nation is measured in national income aggregates of that nation.

Prior to __________, the traditional view of economic development prevailed, under which economic development was defined in terms of economic indicators.

geography economic growth and development development and growth need for sustainable development economics of development

  1. 1970s

  2. 1950s

  3. 1990s

  4. 1980s

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Correct Option: A

Economic development is _____________ in nature.

geography economic growth and development development and growth need for sustainable development economics of development

  1. static

  2. multidimensional

  3. one-dimensional

  4. both A & C

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Correct Option: B

'Redistribution with growth' is the slogan that defined economic development under the ___________ approach.

geography economic growth and development development and growth need for sustainable development economics of development

  1. traditional

  2. quantitative

  3. classical

  4. modern

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Correct Option: D

Economic development, under __________ approach, implies a sustained increase in real per capita income.

geography economic growth and development development and growth need for sustainable development economics of development

  1. quantitative

  2. modern

  3. traditional

  4. qualitative

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Correct Option: C