Economics

Macroeconomic Growth Factors

3,415 Questions

Macroeconomic growth factors include infrastructure, digital economy, inclusive growth, and agricultural productivity. These concepts are vital for economics and general studies papers. Review these questions to understand economic development drivers.

Inclusive growthDigital economyInfrastructure developmentStructural transformationAgricultural productivity

Macroeconomic Growth Factors Questions

Multiple choice geography migration study of population migration and its impact migration : factors, types and consequences world population

How can large population be turned into a productive asset?

  1. By investment in human capital

  2. By stopping migration

  3. By increasing employment opportunities

  4. By developing rural areas
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A large population becomes a productive asset, often called human capital, when there is investment in education, training, and healthcare. This allows individuals to contribute more effectively to the economy.

Multiple choice economics development of maharashtra - service sector the economy of maharashtra economics

What forms the backbone of socio-economic development of any country?

  1. Education

  2. Religious texts

  3. Industrial growth

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Education is considered as one of the basic human needs. It forms the backbone of socio-economic development of any country. in the present scenario, India is getting the advantage of highest demographic dividend due to maximum percentage of young population in the country. Education, therefore becomes 'a priority' at the national as well as state level.

Multiple choice economics development of maharashtra - service sector the economy of maharashtra economics

What is the basic requirement for economic development?

  1. Nuclear power

  2. Infrastructure

  3. Good governance

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Infrastructure is the basic requirement for economic development. A sound infrastructural foundation is the key to overall socio-economic development of the state. This act as a magnet for attracting additional investment into the state and thus provides a competitive edge to it over other states.

Multiple choice social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

Why trade is called an engine of growth?

  1. Because it helps in the increase of foreign currency reserve

  2. It makes available all kinds of goods anywhere

  3. Trade increases technology transfer

  4. It improves the welfare of the workers

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Trade is called an engine of growth because it helps in the increase of foreign currency reserves; it makes available all kinds of goods anywhere; trade increases technology transfer from one country to another; it improves the welfare of the workers; and it helps to increase the total production of a country.

Multiple choice geography ideas of development study of population in tamil nadu population and migration human geography in tamil nadu

 Economic development is characterized by _____________________.

  1. Structural change in the economy

  2. Change in the occupational structure

  3. Both a and b

  4. none of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Development is a sustained effort. Economic development of any nation can be characterized by the following:

  1. Increases in output or production has to be sustained over a long period of time.
  2. Changes in economic structure would spread out in the entire economy. 
  3. Growth has to be accompanied by an increase in efficiency.

Multiple choice geography ideas of development study of population in tamil nadu population and migration human geography in tamil nadu

Which of the following explains the term economic development?

  1. Improvement in the technology involved

  2. Improvement in production

  3. Improvement in distribution system

  4. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
  • Economic growth means increase in output or production.
  •  Economic development means both more output or production and changes in the technical and institutional arrangements by which factors of production are produced and distributed.
  • So it is achieved by the improvements in technology, production and distribution system.

Multiple choice economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

Which of these can be an indicator of economic growth for a country?

  1. Balance of payment position.

  2. Increase in government spending on defence

  3. Increase in labour productivity.

  4. Demographic changes.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Balance of payment is the statement of exchange of commodities, services and capital between the domestic country and the overall world during a given period of time. So if an economy has positive balance of payment position that means the country is developing its productivity. Therefore, it acts as an indicator of economic growth and development of a country. 

Multiple choice commerce micro, medium and small enterprises (msmes) nabard and kvic funding and assistance to small businesses privileges and other promotional measures for msmes

Micro, small and medium Enterprises play an important role in a country's economic and industrial development that is
(1) They have the capacity to absorb skilled and unskilled labour available in the country.
(2) Such institution provide lots of employment and allow income to get concentrated in few hands or in few areas.
(3)They help in eradication of poverty by providing self-employment opportunities.
Select the most appropriate  

  1. Only (1)

  2. Only (2)

  3. Only (3)

  4. Only (1) & (3)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

MSMEs are known for their capacity to absorb labor (1) and help in poverty eradication (3). Statement (2) is incorrect because MSMEs are specifically intended to prevent the concentration of income in a few hands, rather than promote it.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Entrepreneurs initiate and sustain the process of economic development in which of the following ways?

  1. Capital formation

  2. Improvement in per capita income

  3. Generation of employment

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All the above mentioned functions are performed by an entrepreneur which lead to economic development. He makes investment in the firm, which leads to rise in capital formation in the economy. This in turn generates employment opportunities and increased production goods and services, further, income is earned by people employed and profit is generated. This improves the per capita income in the income, which will further increase capital formation, and hence, sustain the process of economic development.

Multiple choice business economics and quantitative methods introduction to managerial economics theories of employment and income concept of international trade macro economic analysis

Which of the following is necessary to opt for economic planning in India?

  1. To break the vicious circle of poverty

  2. To build the social and economic infrastructure

  3. To increase capital formation

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
At the time of independence, the Indian economy was in its worst stage. The GDP, National, and Per Capita income were very low and the unemployment was very high. The Industrial growth was insignificant also the Agricultural Sector was not doing well. The resources were very limited. So India opted for planning because it helps in spelling out how the resources of a nation should be used efficiently and economically, so that rate of economic growth can be accelerated.
Multiple choice economics parameters (indicators) of development human development and human development index (hdi) hdi dynamic of human development

Economic growth without __________ is possible.

  1. economic development

  2. education

  3. capital trade

  4. none of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Economic growth refers to an increase in output, whereas economic development includes qualitative improvements in living standards and social indicators. It is possible to have growth in GDP without corresponding improvements in human development.

Multiple choice economics dynamic of human development development indices various development indexes social development

Human development does not increase the productivity of labour.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

There are many characteristics of human development. Humans are viewed as developed when they have a good education, health, good employment opportunities, decrease in unemployment rates and gender equality etc. The educated population uses modern methods to increase the productivity of labour. Thus, human development increases the productivity of labour.

Thus, the correct answer is B.