Type Indicator Measuring units Demographic * Population growth rate % annual increase * Life expectancy at birth Years * Under 5 mortality rate % of babies who die before 5 per 1000 of population. Which of the statements given above is/are correct ? Indian Economy - Growth and Development - MCQs with answers - Part 1 1. Economic Growth and Economic Development: The Questions 1.1 Cross-Country Income Differences T here are very large differences in income per capita and output per worker across countries today. 3) Ships and aircraft owned by residents of the country operating between two different countries. None. Economic Growth and Development economics questions and answers for interview, entry test and competitive examination freely available to … Hence, it is difficult to judge accurate figures for factors such as sufficiency of health care per person, as this may differ over time and between countries also. unsustainable credit boom and fall in savings; Volatility in world prices for essential imports and key exports Increase in per capita real income c. structural change in the economy d. all the above are right View Answer / Hide Answer a) Inverse relationship between real and nominal wages, b) Inverse relationship between the rate of inflation and rate of unemployment, c) Positive relationship between nominal wages and rate of employment, d) Positive relationship between rate of inflation and nominal wages, 20. Growth can best be described as a 1) Fishing vessels, oil and natural gas rigs operated by the residents of a country in the international waters. 27. Although they measure such factors as maternal health, quality of prenatal care, nutrition levels, sufficiency of healthcare & access to a safe water supply, they fail to take into account indices such as: security & political freedom (which is lacking in some countries such as Russia, Kazakhstan & China), human rights and employment. Select the correct answer using the codes given below: 1) The net domestic product can be greater than the gross domestic product for the same year. Disguised unemployment generally exists in, 13. 3. National income in context of India is the collective income of all the Indians. Get to the point NTA-NET (Based on NTA-UGC) Economics (Paper-II) questions for your exams. 18. Which of the following denotes an underdeveloped economy? Which of the following statements is/are correct? Economic growth is the measure of the value of output of … or b. Economic growth. Which of the pairs given above is/are correctly matched? How does an increase in the saving rate affect economic growth? Small size of market with no incentive for investment a. or by taking into account the income distribution of a country (seeing whether the GNP is high due to a few wealthy people or a general sense of affluence). d. All the above, ANSWER: c. State of deprivation of large proportion of population, 43. Simultaneous investment in all sectors d. all the above are right, 40. 1) The nominal gross domestic product (GDP) reflects the changes in both prices and quantities of goods and services produced in an economy. 11. causing damage to property, creating conflict between the locals and the foreigners. JavaScript seem to be disabled in your browser. b. Question3: I am interesting in starting a new business in Auburn, or I am … 2) Many agricultural workers especially landless labourers and marginal farmers remain unemployed after employment season. Type of unemployment Example A country's general economic health can be measured by looking at that country's economic growth and development. Evaluate the usefulness of the range of criteria available for measuring levels of development ... To what extent are natural resources the pre-requisite to economic development? Tough GCSE topics broken down and explained by out team of expert teachers, Learn the art of brilliant essay writing with help from our teachers, Get your head around tough topics at A-level with our teacher written guides, Start writing remarkable essays with guidance from our expert teacher team, Understand the tough topics in IB with our teacher written Study Guides, Learn the art of brilliant essay writing from our experienced teachers, Struggling with an assignment? Home » Economic Growth and Development Objective Questions » 300+ TOP Economic Growth and Development MCQs, 1. Log in now! Economic Growth & Development Questions 1) Explain the difference between economic development and economic growth. less developed have lots of natural recourses and can increase their own natural wealth by trading with their natural resources. It reflects the productivity of capital in the economy. This formula from the graph can emphasise the distribution, where the closer to result to 0 (and the diagonal line on the graph), the closer to perfect equality the country, whereas an outcome close to 1 shows a high level of inequality. 35. Economic Growth. b) Value of indirect taxes net of subsidies, c) Value of net factor income earned abroad, d) Value of subsidies net of indirect taxes. Lecture 2 1. a) Describe the main features of the Harrod-Domar growth model [2.7-2.9]; b) and show why growth may not take place in the poorest countries (the … Large proportion of labor force in the tertiary sector c. Both ...read more. 250+ Economic Development Interview Questions and Answers, Question1: Does the city have any property for sale (including tax-acquired property)? Economic growth is often described as the National Income and the economic activity of a country. The development of a late night economy is suggested to be based around the entertainment industry. The questions may include various types of questions. A* Exam Technique: Potential benefits of FDI for developing countries. 1) The income method of GDP calculation considers income received by factors or production only. 1. 3) India has the third largest GDP in the world in PPP terms. 19. i. Copyright 2020 , Engineering Interview Questions.com, Economic Growth and Development Multiple Choice Questions :-. When large number of workers lose employment due to automaton of industrial processes, it is called. So what drivesa country towards achieving these goals? 23. 2) Cyclical This kind of unemployment occurs when all those who want to work cannot be employed because there is not enough demand in the market for their work. ), 4. Economic growth is often described as the National Income and the economic activity of a country. 3) Frictional unemployment A person leaving his/her job to prepare for civil services. Gross domestic product is more than the net domestic product. 28. 44. c. Both (b) Examine the Problems of Defining Development (20) Different phrases and words have been used to try and describe differences between countries e.g. Our online economic development trivia quizzes can be adapted to suit your requirements for taking some of the top economic development quizzes. c. Both a and b For example Ethiopia has to travel further (0.708) to reach up to Canada, compared to France which has a difference of 0.014 HDI. Required fields are marked *. And since the 1940's, the value of manufactured goods has risen much faster than the raw materials. Although the term is often used in discussions of short-term economic performance, in the context of economic theory it generally refers to an increase in wealth over an extended period. Consider the following statements regarding seasonal unemployment: 1) It results in large-scale migration of agricultural labourers from agriculturally backward regions to that of urban developed regions. An increase in national income because of an increase in prices only is called an. i. COR is relatively low in labour intensive sectors. b. Which among the following is added to the gross domestic product to arrive at national income of a nation? Disguised unemployment typically leads to low level of income levels despite creating perception of high levels of employment. Consider the following statements and identify the right ones. Most Asked Technical Basic CIVIL | Mechanical | CSE | EEE | ECE | IT | Chemical | Medical MBBS Jobs Online Quiz Tests for Freshers Experienced. Developed countries With reference to assessment of labour market condition, consider the following statements: 1) The labour force participation rate is the ratio of the number of persons in the labour force to the total population. This gave the city an early start in development before the beginning of oil production in the 1960s. Change in the occupational structure In national income accounting, which one of the following is the difference between gross aggregates and net aggregates? the GNP measurement now would differ of that from 50 years ago). Changes in the real exchange rate affecting competitiveness; Cyclical fluctuations in national output and external trade; Financial instability e.g. A comprehensive database of economic development quizzes online, test your knowledge with economic development quiz questions. d. None of the above. Answer :- c. 2. These questions … Which one of the following is the difference between the value at market prices and value at factor cost for a national income aggregate? In India, National Income Statistics are computed by which of the following ? Al-Fahidi Fort in Dubai (1951). The differences between social and economic conditions allow us to compare levels of development achieved in different countries. Sample Assessment Questions: Human Growth and Development . This study suggests that demand for democracy increases with economic integration due to the presence of a learning and cultural transmission channel, so less democratic countries learn from the institutions of their (more) … Economic Growth refers to the rise in the value of all the … The growth rate in per capita income at current prices is higher than that of per capita income at constant prices, because the former takes into account the rate of, 5. (adsbygoogle = window.adsbygoogle || []).push({}); Engineering interview questions,Mcqs,Objective Questions,Class Lecture Notes,Seminor topics,Lab Viva Pdf PPT Doc Book free download. b. Competences It shows the relationship between, b) Population groups and their respective income shares, 21. b) Ministry of Human Resource Development, d) Ministry of Statistics and Programme Implementation, 9. Improvement in the technology involved It basically measures the total volume of goods and services produced in an economy. Which of the following explains the term economic development? Your answer has been saved. a) Percentage of unemployment to total population, b) Percentage of employed to total labour force, c) Percentage of unemployed to total work force, d) Percentage of unemployed to total persons not in labour force. Disguised unemployment generally means, b) Average productivity of labour is zero, c) Marginal productivity of labour is zero, 17. c. State of deprivation of large proportion of population Simultaneous investment in all sectors, Your email address will not be published. Created by teachers, our study guides highlight the really important stuff you need to know. High per capita real income Therefore, does the evidence suggest that the London is like New York City? Question2: What is a Foreign Trade Zone, and what does this mean for Auburn? 29. 10. Consider the following statements about the Multidimensional Poverty Index: 1) It indicates the share of the population that is multidimensionally poor adjusted by the intensity of deprivation in terms of living standards, health, and education. And capital formation in Underdeveloped countries is a reference to where in 1960s. Is called supply of all the Indians the questions on economic growth and development and automation of economy is suggested be... 10 Important Questions with answers Pdf from the year 2010 to 2020 CBSE board exams largest GDP in 1960s. 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