Economics MCQs – The Meaning and Measurement of Economic Development MCQs ( Economics ) MCQs
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According to the next basic needs include ?
A. health, education and quality housing
B. food, clothing and housing
C. adequate nutrition, primary education health sanitation water supply and housing
D. longevity and living standards
Longevity is proxy for ________ in the Human Development Index?
A. health and nutrition
B. infant mortality
C. living standard
D. Purchasing Power Parity
The Physical Quality of Life Index (PQLI) combines three indicators They are ?
A. infant mortality life expectancy and adult literacy rate
B. air pollution rate, Water pollution rate and sanitation
C. crime rate clean environment and quality of housing
D. health education and environment
The University of Pennsylvania researchers Summers and Heston compute the price level of GDP as the ratio of purchasing power parity (PPP) exchange rate to the actual exchange rate where ?
A. both exchange rates are measured s the domestic currency price of the US-dollar
B. both exchange rate are pegged
C. both exchange rates are not converted into international dollars
D. both exchange rate are converted into Big Mac PPP formula
The Paasche index uses _________ weights?
B. fisher-ideal index
D. Purchasing Power Parity (PPP)
OPEC is the ?
A. Organization of Petroleum Exporting Country
B. Oil Producing Economies Caucus
C. Organization of Pre-European Commission
D. Organization of Problematic Economies Committee
One classification of development levels used by the World Bank divides countries into three group on the basis of GNP per capita They are ?
A. Southeast Northeast and Southwest
B. Low income , middle income and high income
C. NIC, OPEC and G7
D. Asia, America and Europe
Which of the following are low income countries income country ?
A. United States
Which of the following countries is not a low-income country ?
The formula to calculate economic growth from 2001 to 2002 is given by ?
A. [(GDP2002 – GDP2001) GDP2001]100
B. [(GDP2002 + GDP2001)/GDP2001]100
C. [(GDP2002 – GDP2001)/GDP2001]100
D. [(GDP2001 – GDP2002]100
If GNP per capita at constant prices for Ghana is US$360 and US$364 in 1996 and 1997 respectively, The real economic growth from 1996 to 1997 is ?
If GNP for Vatican City the smallest country in the world is 200 million euros in year 2011 and its population is 890 GNP per capita is_____________?
B. 2000 – 890
Which of the following countries is not a low income country ?
Economic growth from current year (c) to previous year (p) is given by ?
A. [(GDPc – GDPp)/ DGPp]100
B. GNPc – DGPp100)
C. [(GDPc – GDPp) DGPp]100
D. [GDPp – GDPc]100
If GDP for Barbados is $260 million in 2011 and its population is 260,000 GDP per capita is ?
The formula to calculate Passche price index is (o is the base year and n is the given year) ?
A. P = ΣPnqn/Σpoqn
B. P = ΣPnqo/Σpoqo
C. P = ΣPoqo/Σpnqn
D. P = ΣPnqn/Σpoqo
Imitating labor standards from rich countries in LDCs may increase ?
D. human development
Which of the following statement is not true about LDCs ?
A. A greater share of GNP would have to be devoted to education to attain the same primary enrollment rates as in the U.S
B. Most LDCs have less than 1/10 the per capita GNP of the U.S
C. Setting up western labor standard and minimum wages in labor-abundant LDCs is sensible
D. Most LDCs have a greater shortage of qualified teachers than the U.S does
Which of the following is not one of the Newly Industrialized Countries (NICs) ?
C. South Korea
The Human Development Index (HDI) summarizes a great deal of social performances in a single composite index combining ?
A. human resource training development and R&D
B. longevity, education and living standard
C. minimum schooling, adult literacy and tertiary educational attainment
D. disparity reduction rate, human resource development rate and the composite index
The three measure of welfare indicators above comprise the ?
A. Human Development Index
B. Physical Quality of Life Index
C. Purchasing Power Parity
D. The Laspeyres index
Infant mortality ?
A. is defined as the annual number of deaths of infant under 1 year old per 1,000 live births
B. is life expectancy up to age 3
C. reflects the availability of primary education the rights of employments and social security
D. reflects the availability of hospitals and childcare facilities and the parents wealth
PPP is ?
A. a theory that tells us that exchanged rates between currencies are in equilibrium when their purchasing power is the same in both countries
B. a measure of income inequality
C. GDP divided by exchange rate
D. a measure of infant mortality in developing countries
Which of the following is not a problem in comparing developed and developing countries GNP ?
A. GNP is understated for developed countries, since a number of items included in their national incomes are intermediate goods
B. GNP is overstated for for countries where the price of foreign exchange is less than market clearing price
C. GNP in understated for developing countries since many of their labor intensive good have no impact on exchange rate since they are not traded
D. The economic contribution of a housewife is a peasant family may not be measured is GNP is poor country
The formula for the Laspeyres price index is (o is the base year and n is the given year) ?
A. P = ∑Poqo/∑pnqn
B. P = ∑Poqo/∑poqo
C. P = ∑Pnqo/∑poqo
D. P = ∑Poqn/∑poqo
The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?
A. less than $900, $900-$9000 and more than $9000
B. less than $100, $100-$1000 and more than $1000
C. less than $5000, $5000-$15000 and more than $15000
D. less than $5000, $5000-$150000 and more than $150000
All of the following are low income countries except ?
A. United Arab Emirates
All of the following are high income countries except ?
B. the United Kingdom
According to chapter 2 in the text which of the following is true ?
A. The fastest growing countries must be the ones with the highest per capita GNP
B. The boundary between rich and poor countries has become clearer in 1990s
C. A few poor countries like South Korea and Malaysia in the 1950s grew much more rapidly than some higher-income countries like Uruguay and New Zealand
D. Today all high and Upper-middle income countries are Western.
IF GDP for Maldivies is $435 million in 2012 and the GDP per capita is $1576.087 the population of the country must be ?
If GDP for Palau a small country near southeast of the Philippines is $130 million in 2012 and its population is 20,000 GDP per capita is ?
Economic development refers to ?
A. improvement in the well-being of the urban population
B. economic growth plus changes in (c) output distribution and economic structure
C. economic growth
D. sustainable increase in Gross National Product
All of the following are high income countries except ?
D. South Africa
IF GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austri is US$555 and US$560 in 2011 and 2012 respectively, the real economic growth from 2011 to 2012 is ?
Tuvalu is composed of 9 coral atolls along a 360-mile chain in Polynesia They gained independence in 1978 The former Ellice Island are home to 9,700 people if GNP of Tuvalu is $300 million in 2005 GNP per capital is ?
A. 300 / 360
B. 9700 (1978 / 2005)
C. 300 000 000 / 9700
Lespeyres type indexes use weights from_____________?
B. current period
D. future year