Economic growth refers to:
A) An increase in a country’s GDP
B) Improvements in healthcare and education
C) A decrease in poverty levels
D) A rise in employment rates
Which of the following is a characteristic of economic development?
A) Increase in per capita income
B) Increase in the number of factories
C) Increase in stock market prices
D) Increase in military expenditure
Economic growth is generally measured by:
A) Changes in life expectancy
B) A rise in the standard of living
C) Changes in GDP or GNP
D) Improvements in income distribution
Which of the following distinguishes economic development from economic growth?
A) Economic growth is quantitative, while economic development is qualitative
B) Economic growth refers to a decrease in wealth
C) Economic growth focuses on environmental sustainability
D) Economic growth leads to lower standards of living
Economic development focuses on:
A) Increasing the number of factories in a country
B) Improvements in human well-being and quality of life
C) Reducing government expenditure
D) Maximizing short-term profits
Which of the following is an indicator of economic development?
A) Higher levels of poverty
B) Improved access to education and healthcare
C) Increased exports
D) Rising inflation rates
Economic growth is a measure of:
A) Improvements in health and education
B) The increase in production of goods and services
C) A decrease in poverty
D) The wealth distribution across society
Which of the following is a limitation of economic growth as an indicator of progress?
A) It does not account for income inequality
B) It measures overall well-being
C) It accounts for environmental sustainability
D) It focuses on poverty reduction
Economic development involves:
A) Merely increasing GDP
B) The redistribution of wealth
C) Improvements in political freedom and social justice
D) The increase in imports and exports
Which of the following is a result of sustained economic growth?
A) Rising poverty rates
B) Declining income inequality
C) Increasing GDP per capita
D) Reduced standard of living
What is one major factor that economic development emphasizes, which is not typically associated with economic growth?
A) Environmental protection
B) Increased production
C) Higher GDP
D) Technological innovation
Which of the following is a common goal of economic development?
A) Increasing the production of luxury goods
B) Reducing poverty and inequality
C) Maximizing exports
D) Reducing labor participation rates
Which of these statements about economic growth and development is true?
A) Economic growth always leads to economic development
B) Economic development does not require economic growth
C) Economic growth and development are the same thing
D) Economic growth is the only measure of development
In terms of measuring economic growth, the most common metric used is:
A) The Human Development Index (HDI)
B) GDP or GNP
C) The unemployment rate
D) The income distribution index
A country with high economic growth but low economic development might experience:
A) Low literacy rates
B) High standards of living
C) Reduced inequality
D) Increased environmental sustainability
Which of the following is an example of economic growth but not necessarily development?
A) Increase in factory output
B) Increase in educational enrollment rates
C) Reduction in income inequality
D) Improved healthcare outcomes
Economic development focuses on improving:
A) The financial capital of a nation
B) The standard of living and well-being of the population
C) The size of government debt
D) The speed of technological innovation
Economic growth can be driven by:
A) Increased foreign aid
B) Increased production of goods and services
C) The redistribution of wealth
D) Improvements in social welfare programs
Which of the following is often a challenge in balancing economic growth with economic development?
A) Maintaining high inflation rates
B) Addressing income inequality
C) Reducing the GDP per capita
D) Ensuring a larger workforce is employed
Economic development is considered successful when:
A) A country achieves a high GDP growth rate
B) There is a reduction in poverty and improvements in healthcare
C) The wealthiest individuals grow even wealthier
D) There is a rise in unemployment rates
Which of the following factors is essential for long-term economic development?
A) High inflation
B) Political stability and good governance
C) Maximizing military spending
D) Short-term financial speculation
What does economic growth fail to measure?
A) The wealth distribution and inequality
B) The increase in the production of goods
C) The technological advancement of the country
D) The change in national debt
Economic growth tends to focus on:
A) Improving the social well-being of individuals
B) The quantitative increase in output and income
C) Sustainable environmental practices
D) Equal distribution of wealth
Which of the following is a limitation of relying solely on GDP growth to measure economic development?
A) It ignores improvements in education and health
B) It shows whether a country is producing efficiently
C) It reflects the total income of a country
D) It takes into account natural resource usage
The term “sustainable development” is most closely associated with:
A) Economic growth without regard to environmental concerns
B) Long-term economic development that balances current and future needs
C) Rapid economic growth at the cost of environmental degradation
D) Short-term increases in GDP
Which factor is crucial in distinguishing between economic growth and economic development?
A) The level of inflation in a country
B) The improvement in living standards and quality of life
C) The country’s financial reserves
D) The increase in taxes collected by the government
Economic development emphasizes the:
A) Growth in national income
B) Enhancement of human welfare and equity
C) Expansion of capital investment only
D) Focus on industrialization
Which of the following is a key difference between economic growth and economic development?
A) Economic growth focuses on income distribution, while economic development focuses on output
B) Economic development includes qualitative measures like education, while economic growth focuses on quantitative output
C) Economic growth involves wealth redistribution, while economic development involves the wealth creation
D) Economic growth focuses on human welfare, while economic development focuses on production
