A level Economic Growth and Development Quiz 1

16 QuestionsMultiple ChoiceFree Practice

About this quiz

This A level Economic Growth and Development Quiz 1 quiz contains 16 multiple choice questions designed to help you revise and test your A level Economic Growth and Development Quizzes knowledge. Select an answer for each question and click “Submit Answer” to see instant feedback. Take your time and try to score as high as possible!

Description

Here in this exciting quiz, we shall be studying economic growth and development. According to the A level syllabus, we will get to look at the concept of per capita income, gross domestic product, the economic growth rate, economic development, among others. You will get to learn a lot by answering these questions.

Economic growth refers to an increase in the production of goods and services in an economy, and usually, it is compared from one period of time to another. Some factors leading to the contribution to economic growth are increase in capital, labor force, and technology. Economic growth is often measured in terms of the increase in aggregate market value of additional goods and services produced, making use of estimates such as the GDP. On the other hand, economic development refers to the process whereby low-income national economies are being transformed into modern industrial economies.

It is important to take note that growth is an essential condition to achieve development.

Due to the broad nature of A level economics, the gcequiz platform has made available several economics quizzes to aid students in their studies. What are you waiting for? Go ahead and answer the quiz. Good luck. 

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Question 1 of 16

An increase in national income because of an increase in prices only is called

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Question 2 of 16

  The national income of a country for a given period is equal to the 

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Question 3 of 16

  In an open economy, the national income (Y) of the economy is (C,I,G,X,M stand for consumption, investment, government expenditure, total exports, and total imports, respectively.) 

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Question 4 of 16

 The growth rate in per capita income at current prices is higher than that of per capita income at constant prices, because the former takes into account the rate of 

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Question 5 of 16

The value of all final goods and services produced by the normal residents of a country and their property, whether operating within the domestic territory of the country or outside, in a year is termed 

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Question 6 of 16

 National income in context of India is the collective income of all the Indians. Which of the following is equivalent to national income? 

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Question 7 of 16

Gross domestic product is more than the net domestic product. Gross domestic product (GDP) is called “gross” because its computation does not exclude 

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Question 8 of 16

 Which one of the following is responsible for bringing out the report on national and per capital income in India? 

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Question 9 of 16

 The main reason for the low growth rate in India in spite of high rates of savings and capital formation is 

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Question 10 of 16

 Inclusive growth is the agenda of economic development in the future. The strategy of inclusive growth does not focus on 

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Question 11 of 16

 Disguised unemployment typically leads to low level of income levels despite creating perception of high levels of employment. Disguised unemployment generally exists in 

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Question 12 of 16

 When large number of workers lose employment due to automaton of industrial processes, it is called 

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Question 13 of 16

 The mechanization and automation of economy is leading to high unemployment rate in the economy. Which one of the following is the unemployment rate? 

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Question 14 of 16

 If the net national product at market price is higher that the net national product at factor cost, then which of the following is the correct description of relationship between indirect taxes and government subsidies: 

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Question 15 of 16

  Human Development Index comprises literacy rates, life expectancy at birth, and 

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Question 16 of 16

 Which one of the following is shown by the Phillips curve?