Tag: need for sustainable development

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

Economic growth stresses on _________ period of time, whereby the rise in per capita income must be sustained or prolonged.

  1. short

  2. long

  3. very short

  4. either A or C
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Economic growth is a long-term process. Short-term fluctuations in income do not constitute economic growth; it requires a sustained increase over an extended period.

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

An increase in national income does not represent improvement in the standard of living, since, if increase in ___________ surpasses the growth in national income, the per capita income will fall.

  1. employment level

  2. population

  3. income level

  4. number of industries
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Per capita income is calculated as national income divided by population. If the population grows faster than the national income, the average income per person decreases, even if the total national income has risen.

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

______________ is the process whereby the real per capita income of a country increases over a long period of time.

  1. Sustainable development

  2. Stable development

  3. Economic growth

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

Economic growth is specifically defined as the increase in a country's real per capita income over a long period of time.

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

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

  1. population change

  2. employment level

  3. inflation

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

Economic growth is measured by per capita income, which adjusts the total national income by dividing it by the population to account for changes in the number of people sharing that income.

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

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

  1. per capita income

  2. employment level

  3. poverty

  4. both A & C
Reveal answer Fill a bubble to check yourself
A Correct answer
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. 

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

___________ was one of the earliest writers on development economics.

  1. Simon Kuznets

  2. Adam Smith

  3. A.C. Pigou

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

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

A mere increase in ____________ is not considered economic growth.

  1. per capita income

  2. GDP

  3. GNP

  4. both B & C
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

GDP and GNP are measures of total national output. Without accounting for population growth, an increase in these figures does not necessarily mean that the average citizen is better off, so they are not sufficient indicators of economic growth on their own.

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

What does the concept of economic growth focus on?

  1. Rise in employment level.

  2. Increase in social wealth of the nation.

  3. Increase in per capita income.

  4. Increase in production output.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The primary focus of economic growth is the increase in per capita income, which serves as a proxy for the average standard of living.

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

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

  1. employment aggregates

  2. national income aggregates

  3. both A & B

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

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

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

  1. 1970s

  2. 1950s

  3. 1990s

  4. 1980s
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Before the 1970s, economic development was largely viewed through a narrow lens of economic indicators like GDP growth. The 1970s marked a shift toward more multidimensional views including social and human development.