Tag: economic growth and development

Quizzes (2) Questions (77)

Questions Related to economic growth and development

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

Per Capita income is obtained by dividing National Income by _________________.

  1. Total population of the country

  2. Total working population

  3. Area of the country

  4. Volume of the capital used
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Per capita income is obtained by dividing national income by total population of the country per capita income by total population of the country. Per capita income, also known as income per person, is the mean income of the people in a country. 

It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.

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

Choose the correct answers from the alternatives given.
Which Five Year Plan is not correct among the following?

  1. First 1951-56

  2. Second 1956-61

  3. Third 1961-66

  4. Fourth 1966-71
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Despite big investments during the first three Plans, the Living standards of the poor could not be raised and poverty and inequity in distribution of state resources remained stark. Consequently, the period between 1966 and 1969 marked the shift from a 'growth approach' to a 'distribution from growth approach'. Looking at the failures and pitfalls the planners suspended the impending Fourth Plan, which was due in 1966, until 1969 for a revision of objectives and targets. This came to be called as the 'Plan Holiday' extending from 1 April 1966 to 31 March 1969.

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

Identify the problems related with the use of per capita income index to compare the standard of living, economic growth and welfare between different countries.

  1. Problem of expression of national income of different countries in one currency.

  2. Different concepts of national income measurement are used in different countries.

  3. Difficulty in measuring standard of living of different countries due to differing price levels.

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

Comparing per capita income across countries is difficult due to currency conversion issues, different methodologies for calculating national income, and varying purchasing power (price levels).

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

Indian Economy is a __________.

  1. capitalist economy

  2. socialist economy

  3. mixed economy

  4. not an economy at all
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Indian economy is a mixed economy.  A mixed economy can be defined as a market system which entails features from both the capitalist economy as well as socialist economy. Decisions in a mixed economy are jointly taken by both the private as well as public sector.

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

The ____________ in December 2011 has taken steps to reduce greenhouse gas emissions and set up a Green Climate Fund for this purpose.

  1. Durban Meet

  2. Climate Change Convention

  3. Rio Convention

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

In the field of climate finance, green climate fund has been set up to provide fund for a healthy climate for the people. For this purpose, the Durban Meet in December 2011 was set up. 

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

Economic growth in country X will necessarily have to occur if ___________________.

  1. there is a technical progress in the world economy

  2. there is population growth in X

  3. there is a capital formation in X

  4. the volume of trade grows in the world economy
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Capital formation (investment) brings additional income/production in the economy which enhances growth. Other of the given choices do not lead to 'necessay' growth.