CH 3 : Economic Growth and Development

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What is the primary focus of the Reconstruction and Development Programme (RDP)?

Job creation

Meeting basic needs (correct)

Fiscal and monetary discipline

Market-led growth

What is the aim of the Growth, Employment and Redistribution (GEAR) approach?

Reducing poverty

Market-led growth (correct)

Job creation

Improving average economic growth

What is the target of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

Increasing access to resources

Improving economic stability

Halving unemployment and poverty (correct)

Reducing inequality

What is the primary focus of the New Growth Path (NGP)?

Job creation Signup and view all the answers

What is the North/South Divide characterized by?

Disparity in income levels Signup and view all the answers

What is the Human Development Index (HDI) used to measure?

Standard of living Signup and view all the answers

What approach do South African policies incorporate?

Both demand-side and supply-side approaches Signup and view all the answers

What is the primary focus of evaluating South African approaches?

Effectiveness in reducing poverty, inequality, and unemployment, and impact on overall economic growth Signup and view all the answers

What is the primary goal of the Reconstruction and Development Programme (RDP)?

All of the above Signup and view all the answers

What is the common characteristic of the North/South Divide?

Disparity in income levels Signup and view all the answers

What does economic growth refer to?

An increase in a country's real GDP or real GDP per capita over time Signup and view all the answers

What is the main focus of the demand-side approach to economic growth?

Increasing government expenditure to stimulate economic activity Signup and view all the answers

What is the objective of import substitution?

To encourage the production of goods domestically that would otherwise be imported Signup and view all the answers

What is the main objective of export promotion?

To support domestic industries to increase their exports Signup and view all the answers

What is the focus of the supply-side approach to economic growth?

Improving the quality of the labor force and managing natural resources Signup and view all the answers

What is the role of entrepreneurship in economic growth?

To encourage entrepreneurs to discover and exploit new business opportunities Signup and view all the answers

What is the difference between economic growth and economic development?

Economic development is a broader concept that includes economic growth Signup and view all the answers

What is the main objective of redistribution of income policies?

To redistribute income to enhance consumption among lower-income earners Signup and view all the answers

What is the objective of accumulating capital goods?

To invest in infrastructure and technology to enhance production capacity Signup and view all the answers

What is the role of advancements in technology in economic growth?

To emphasize innovation and technological advancement to improve productivity and competitiveness Signup and view all the answers

Which of the following South African approaches emphasizes democratizing state and society?

RDP Signup and view all the answers

What is the main determinant of the standard of living in the North/South Divide?

Human Development Index (HDI) Signup and view all the answers

What is the primary goal of evaluations of South African approaches?

Reducing poverty and inequality Signup and view all the answers

Which of the following approaches is characterized by market-led growth?

GEAR Signup and view all the answers

What is the primary objective of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

Improving average economic growth Signup and view all the answers

What is the common characteristic of the economic and human divides in the North/South Divide?

Significant disparities Signup and view all the answers

Which of the following approaches focuses on identifying job drivers?

NGP Signup and view all the answers

What is the primary focus of the Reconstruction and Development Programme (RDP)?

Meeting basic needs Signup and view all the answers

What is the primary characteristic of South African policies?

Both demand-side and supply-side approaches Signup and view all the answers

What is the primary outcome of the North/South Divide?

Stark differences in living standards Signup and view all the answers

What is the primary objective of economic development?

Improvement in standards of living and income equity Signup and view all the answers

Which of the following is a demand-side approach to economic growth?

Increased government expenditure Signup and view all the answers

What is the primary goal of import substitution?

To retain economic benefits within the country Signup and view all the answers

What is the role of education and training in economic growth?

To improve the quality of the labor force Signup and view all the answers

What is the primary objective of export promotion?

To support domestic industries and increase exports Signup and view all the answers

What is the primary focus of the supply-side approach to economic growth?

Improving the production capacity and productivity Signup and view all the answers

What is the role of natural resources in economic growth?

To manage and use natural resources efficiently Signup and view all the answers

What is the primary goal of accumulating capital goods?

To invest in infrastructure and technology Signup and view all the answers

What is the role of advancements in technology in economic growth?

To improve productivity and competitiveness Signup and view all the answers

What is the primary objective of redistribution of income policies?

To enhance consumption among lower-income earners Signup and view all the answers

Which of the following strategies is most likely to lead to an increase in a country's real GDP per capita?

Increasing investments in education and training to enhance productivity Signup and view all the answers

What is the primary difference between economic growth and economic development?

Economic growth focuses on GDP growth, while economic development focuses on income inequality and general well-being Signup and view all the answers

Which of the following approaches to economic growth is most likely to lead to increased income inequality?

Demand-side approach, focusing on increasing government expenditure Signup and view all the answers

Which of the following approaches is most likely to prioritize economic restructuring over short-term job creation?

Growth, Employment and Redistribution (GEAR) Signup and view all the answers

What is the primary goal of entrepreneurship in the context of economic growth?

To discover and exploit new business opportunities, integrating various production factors Signup and view all the answers

What is the primary difference between the economic and human divides in the North/South Divide?

Standard of living Signup and view all the answers

Which of the following is a characteristic of the North/South Divide?

Income inequality between countries Signup and view all the answers

Which of the following approaches is most likely to prioritize democratizing state and society?

Reconstruction and Development Programme (RDP) Signup and view all the answers

What is the primary objective of import substitution?

To encourage domestic production of goods that would otherwise be imported Signup and view all the answers

What is the primary goal of evaluations of South African approaches?

Reducing poverty and inequality Signup and view all the answers

Which of the following approaches to economic growth is most likely to lead to sustainable income redistribution?

Demand-side approach, focusing on redistributing income to enhance consumption among lower-income earners Signup and view all the answers

What is the primary role of advancements in technology in economic growth?

To improve productivity and competitiveness Signup and view all the answers

Which of the following is a characteristic of both the economic and human divides in the North/South Divide?

All of the above Signup and view all the answers

Which of the following strategies is most likely to lead to increased economic benefits within the country?

Encouraging domestic production of goods that would otherwise be imported Signup and view all the answers

What is the primary focus of the New Growth Path (NGP) approach?

Job creation and identifying job drivers Signup and view all the answers

What is the primary goal of managing and using natural resources in the context of economic growth?

To ensure efficient and sustainable management of natural resources Signup and view all the answers

Which of the following approaches incorporates both demand-side and supply-side approaches?

South African policies Signup and view all the answers

What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA) approach?

Halving unemployment and poverty Signup and view all the answers

What is the primary characteristic of the Human Development Index (HDI)?

Measures standard of living Signup and view all the answers

Which of the following approaches is most likely to prioritize building the economy?

Reconstruction and Development Programme (RDP) Signup and view all the answers

CH 3 : Economic Growth and Development

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Questions and Answers

What is the primary focus of the Reconstruction and Development Programme (RDP)?

What is the aim of the Growth, Employment and Redistribution (GEAR) approach?

What is the target of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

What is the primary focus of the New Growth Path (NGP)?

What is the North/South Divide characterized by?

What is the Human Development Index (HDI) used to measure?

What approach do South African policies incorporate?

What is the primary focus of evaluating South African approaches?

What is the primary goal of the Reconstruction and Development Programme (RDP)?

What is the common characteristic of the North/South Divide?

What does economic growth refer to?

What is the main focus of the demand-side approach to economic growth?

What is the objective of import substitution?

What is the main objective of export promotion?

What is the focus of the supply-side approach to economic growth?

What is the role of entrepreneurship in economic growth?

What is the difference between economic growth and economic development?

What is the main objective of redistribution of income policies?

What is the objective of accumulating capital goods?

What is the role of advancements in technology in economic growth?

Which of the following South African approaches emphasizes democratizing state and society?

What is the main determinant of the standard of living in the North/South Divide?

What is the primary goal of evaluations of South African approaches?

Which of the following approaches is characterized by market-led growth?

What is the primary objective of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

What is the common characteristic of the economic and human divides in the North/South Divide?

Which of the following approaches focuses on identifying job drivers?

What is the primary focus of the Reconstruction and Development Programme (RDP)?

What is the primary characteristic of South African policies?

What is the primary outcome of the North/South Divide?

What is the primary objective of economic development?

Which of the following is a demand-side approach to economic growth?

What is the primary goal of import substitution?

What is the role of education and training in economic growth?

What is the primary objective of export promotion?

What is the primary focus of the supply-side approach to economic growth?

What is the role of natural resources in economic growth?

What is the primary goal of accumulating capital goods?

What is the role of advancements in technology in economic growth?

What is the primary objective of redistribution of income policies?

Which of the following strategies is most likely to lead to an increase in a country's real GDP per capita?

What is the primary difference between economic growth and economic development?

Which of the following approaches to economic growth is most likely to lead to increased income inequality?

Which of the following approaches is most likely to prioritize economic restructuring over short-term job creation?

What is the primary goal of entrepreneurship in the context of economic growth?

What is the primary difference between the economic and human divides in the North/South Divide?

Which of the following is a characteristic of the North/South Divide?

Which of the following approaches is most likely to prioritize democratizing state and society?

What is the primary objective of import substitution?

What is the primary goal of evaluations of South African approaches?

Which of the following approaches to economic growth is most likely to lead to sustainable income redistribution?

What is the primary role of advancements in technology in economic growth?

Which of the following is a characteristic of both the economic and human divides in the North/South Divide?

Which of the following strategies is most likely to lead to increased economic benefits within the country?

What is the primary focus of the New Growth Path (NGP) approach?

What is the primary goal of managing and using natural resources in the context of economic growth?

Which of the following approaches incorporates both demand-side and supply-side approaches?

What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA) approach?

What is the primary characteristic of the Human Development Index (HDI)?

Which of the following approaches is most likely to prioritize building the economy?

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