Economic Growth and Development Quiz
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Questions and Answers

Which measure of economic output takes into account the market value of all goods and services produced within a country's borders in a year?

  • Gross National Happiness Index (GNHI)
  • Gross Productivity Index (GPI)
  • Gross National Product (GNP)
  • Gross Domestic Product (GDP) (correct)

    • What are the two main drivers of economic growth?

  • Government policies and foreign investment
  • Population growth and income distribution
  • New resources and technological change (correct)
  • Inflation and unemployment

    • Which economic measure takes into account the market value of all goods and services produced by nationals of a given country in a year?

  • Gross National Happiness Index (GNHI)
  • Gross National Product (GNP) (correct)
  • Gross Domestic Product (GDP)
  • Gross Productivity Index (GPI)

    • Which of the following is NOT a problem with GDP as a measure of economic output?

    <p>Adjustments (PPP)</p> Signup and view all the answers

    Which measure of economic output adjusts for purchasing power parity (PPP) and is an alternative to GDP?

    <p>Gross National Income (GNI)</p> Signup and view all the answers

    True or false: Economic growth and development are the same thing.

    <p>True</p> Signup and view all the answers

    True or false: GDP measures the market value of all goods and services produced by nationals of a given country in a year.

    <p>False</p> Signup and view all the answers

    True or false: GNP measures the market value of all goods and services produced within a country's borders in a year.

    <p>False</p> Signup and view all the answers

    True or false: The informal sector or underground economy is a problem with GDP as a measure of economic output.

    <p>True</p> Signup and view all the answers

    True or false: Technological change is one of the drivers of economic growth.

    <p>True</p> Signup and view all the answers

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